This bill amends sections of the Arizona Revised Statutes to change the regulations for health insurance premiums and taxes and create the Arizona Health Care Workforce Advisory Council and the Arizona Health Care Workforce Investment Fund. The council will address health care workforce shortages in Arizona and is comprised of representatives from different health-related areas, including the insurance industry, the Department of Health Services, and the universities under the Arizona board of regents. Funding comes from grants, donations, and specified tax funding, including percentage of premiums received for accident and health insurance from insurers. It will be used to expand class sizes at colleges and universities, purchase new equipment and laboratory space, hire faculty members, fund post-graduate clinical training programs and scholarships, and attract health care providers to rural areas. The director of the program prescribes form and procedure to apply for and approve grants, establishes requirements for awarding grants, and can enter into agreements to be eligible and apply for federal matching money.