commerce; 2026-2027

Established a new 'Office of Defense Innovation' within the Arizona Commerce Authority to foster defense, aerospace, and national security industries through contracts and strategic planning.

Extended the termination date of a specific program from July 1, 2026, to July 1, 2028.

Adjusted the Arizona Competes Fund contribution schedule, setting the deposit amount at $1,750,000 through fiscal year 2028-2029 and increasing it to $3,500,000 thereafter.

Revised the financial surveillance assessment schedule for insurers, updating the asset thresholds and corresponding fee ranges for foreign, alien, and domestic insurers.

Updated the examination frequency for domestic insurers from 'as often as advisable' to a mandatory minimum of once every five years.

Added specific definitions for 'advanced air mobility' and 'dual use technology' to clarify the scope of the new defense innovation office.