cap; water supply development fund

SB 1560 establishes a revolving fund to support water supply development projects in Arizona. The fund provides loans (up to $3 million per project) and grants (up to $2 million per project) to eligible water providers and entities for water projects within the state. It also allows the fund to purchase or refinance water provider debt at market rates, provide insurance for bond obligations, cover administrative costs, and conduct water studies. This bill directly affects Arizona water providers and local entities seeking funding for water infrastructure development.