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Hobbs signs utility financing bill, foes say legal challenge could follow
Key Points: Gov. Hobs signs bill allowing utilities to transfer debt to bonds Bill was written by Arizona Public Service Opponents say more oversight of securitization process is needed Gov. […]
Utility financing bill on Hobbs’ desk, some Democrats urge veto
Key Points: A bill allowing public utility companies to securitize assets passed out of the Legislature Republicans say the governor will sign the bill with new amendments Some Democrats say […]
Critics of utility measure urge veto if it lands on Hobbs’ desk
Key Points: Bill would allow utility companies to move debt into low-interest bonds Critics say the process can be good, but lacks safeguards to protect residential utility customers Utility companies […]
APS is playing both sides on securitization bill
House Bill 2679 is being sold as a financing mechanism that is a win-win for utilities and their ratepayers. And yet, there is overwhelming opposition to the bill from both […]
Utility-authored securitization bill is horrible deal for ratepayers and state
Despite record-breaking profits, Arizona’s monopoly utilities — led by APS — are pushing to offload even more costs onto ratepayers with less oversight through a sweeping new bill, HB2679. If […]
Powering Arizona’s future with smart energy solutions
As we dive into another legislative session, securitization is a proven policy solution Arizona can’t afford to overlook. Let’s work together to make it happen.
Lottery big part of state’s financial plans, but first voters must vote to keep it
While other contributors to state revenues have dropped off severely of late, the Arizona Lottery has been a growing source of tens of millions of dollars per year since its inception in 1980. The lottery funds a variety of voter-approved state programs in areas such as education, health and transportation and has contributed $2.3 billion in all to its beneficiaries.
Lottery renewal needed before state can borrow
The odds of winning the Arizona Lottery's big jackpot are about one in 175 million. The odds that lawmakers will sell off future lottery revenues for a quick cash infusion are exponentially better. As lawmakers ponder how to fix a fiscal 2011 budget deficit that is expected to top $2 billion, many are viewing lottery securitization as a last resort whose time has come.
