industrial development bonds; preapproval; threshold

HB 2136 requires corporations to obtain preapproval from a local governing body or Arizona Department of Housing before issuing bonds for specific housing projects. It mandates that corporations submit detailed plans covering bond amounts, terms, fees, and project locations, with reviewers assessing whether projects serve low/moderate-income housing needs or improve blighted areas. The bill sets limits on review fees ($10,000 for local bodies, $5,000 for the Department) and requires decisions within 30 days. Exceptions apply for state-owned facilities, nonprofits, and certain nursing homes. This applies directly to corporations seeking to finance single-family housing, multifamily rentals, or healthcare facilities under defined conditions.