Appropriates $333 million annually for three years to compensate Phoenix property owners for diminished property values due to zoning ordinances.

The bill appropriates $333 million annually for fiscal years 2026-2027, 2027-2028, and 2028-2029 to the state treasurer. These funds are intended to compensate eligible claimants or property owners in Phoenix for damages resulting from the diminution in property values due to zoning ordinances and other actions by the city. The state shared revenues to Phoenix will be reduced by $333 million annually over the same period, first from urban shared revenues and then from state transaction privilege tax revenues.

Appropriates $333 million annually for three years to compensate Phoenix property owners for diminished property values due to zoning ordinances.

The bill appropriates $333 million annually for fiscal years 2026-2027, 2027-2028, and 2028-2029 to the state treasurer. These funds are intended to compensate eligible claimants or property owners in Phoenix for damages resulting from the diminution in property values due to zoning ordinances and other actions by the city. The state shared revenues to Phoenix will be reduced by $333 million annually over the same period, first from urban shared revenues and then from state transaction privilege tax revenues.