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Arizona Revised Statutes Title 41. State Government § 41-1506. Arizona commerce authority fund

Current as of January 01, 2025 | Updated by Findlaw Staff

A. The Arizona commerce authority fund is established consisting of:

1. Withholding tax revenues allocated to the fund from the job creation withholdings clearing account pursuant to § 43-409, subsection B, paragraph 1. Monies credited to the fund may be deposited in the state treasury or in a bank or other depository approved by the board of directors pursuant to § 41-1504, subsection D, paragraph 5.

2. Monies deposited pursuant to § 18-603.

B. The chief executive officer shall administer the fund. On notice from the chief executive officer, the state treasurer shall invest and divest any monies in the fund deposited in the state treasury as provided by § 35-313, and monies earned from investment shall be credited to the fund. Monies in the fund are exempt from the provisions of § 35-190 relating to lapsing of appropriations.

C. The chief executive officer shall use the monies in the fund as follows:

1. Monies described in subsection A, paragraph 1 of this section shall be used exclusively for the purposes of this chapter without further legislative authorization.

2. Monies described in subsection A, paragraph 2 of this section shall be used exclusively for the purposes of title 18, chapter 6.  1

1 Section 18-601 et seq.
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Cite this article: FindLaw.com - Arizona Revised Statutes Title 41. State Government § 41-1506. Arizona commerce authority fund - last updated January 01, 2025 | https://codes.findlaw.com/az/title-41-state-government/az-rev-st-sect-41-1506/

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