Arizona Revised Statutes Title 28. Transportation § 28-7094. Property acquisition; future needs; highway properties fund; rental revenue

A. The authority provided by this article to acquire real property for transportation purposes includes authority to acquire for future needs if the board has an adopted and approved state route plan or airport site location showing a reasonable need for the property.

B. The director may:

C. The highway properties fund is established. The director shall deposit, pursuant to §§ 35-146 and 35-147, rents received from property acquired in the state highway fund established by § 28-6991, except that twenty-four percent of all rents received shall be deposited in the highway properties fund. Net income received from rentals under this section shall be credited to the budgetary item from which the property was acquired.

D. If the director determines that any rental revenue collected under this section represents overpayment or payment in duplicate, the director may authorize the refund of the overpayment or payment in duplicate from the highway properties fund and the state highway fund established by § 28-6991.

E. Not later than November 1 next following the close of any fiscal year, the department of administration shall pay the rents deposited in the highway properties fund to the county treasurer in the county in which the real property is situated. The director of the department of transportation shall certify to the department of administration the amount of the rentals attributable to each county and shall notify each county of the rental and location of each piece of rental property for which rents are deposited in the fund.

F. The county treasurer shall distribute any payment received by the county treasurer pursuant to this section to the county, to each revenue district for which the county assesses and collects real property taxes or assessments and to every other taxing agency within the county in which the property is situated. The amount distributable to the county and each such revenue district or other taxing agency shall be proportionate to the ratio that the amount of the taxes and assessments of each on similar real property similarly situated within that part of the county embracing the smallest in area of the revenue districts or other taxing agencies other than the county, levied for the fiscal year next preceding, bears to the combined amount of the taxes and assessments of all such districts and agencies, including the county, on such property levied for that year. The county treasurer shall determine and certify the amounts distributable to the board of supervisors, and the board shall order the distribution.

G. Any monies distributed pursuant to this section to any county, revenue district or other taxing agency shall be deposited to the credit of the same fund as any taxes or assessments on any taxable similar real property similarly situated. If a county receives a payment pursuant to this section of $25 or less for any parcel of leased property, all of the payment shall be distributed to the county for deposit in the county general fund.

H. The respective jurisdictions may spend the monies received by them under this section for any proper public purpose not prohibited by the state constitution.