41-1505.12. Arizona commerce authority local communities fund
233 words·~1 min read·
/az/title-41/41-1505-12·A research copy — for the controlling text, always check the official state or federal source. Not legal advice.
(Caution: 1998 Prop 105 applies)
A. The Arizona commerce authority local communities fund is established consisting of monies deposited pursuant to sections 5-601.02(H)(4)(b) and 5-601.02(I)(6)(b)(vii), and interest earned on those monies. The chief executive officer shall administer the fund. The fund is not subject to appropriation, and expenditures from the fund are not subject to outside approval notwithstanding any statutory provision to the contrary.
B. Monies received pursuant to sections 5-601.02(H)(4)(b) and 5-601.02(I)(6)(b)(vii) shall be deposited directly with the Arizona commerce authority local communities fund. On notice from the chief executive officer, the state treasurer may invest and divest monies in the fund as provided by section 35-313, and monies earned from investment shall be credited to the fund. No monies in the fund shall revert to or be deposited in any other fund, including the state general fund. Monies in the fund are exempt from the provisions of section 35-190 relating to the lapsing of appropriations. Monies provided from the fund shall supplement, not supplant, existing monies.
C. All monies in the fund shall be used by the authority to provide grants to cities, towns and counties for government services that benefit the general public, including public safety, mitigation of impacts of gaming, or promotion of commerce and economic development. All grant applications must have a written endorsement of a nearby Indian tribe to receive an award of funds from the authority.