Arizona Revised Statutes Title 48. Special Taxing Districts § 48-4467. Drought relief account

A. The district shall establish and maintain a drought relief account for the district beginning January 1 of the third calendar year following the year in which the district is established with a balance of zero on that date.

B. At the end of each calendar year, beginning with the third calendar year following the year in which the district is established, the district shall register a credit to the account in the amount of the district's historic annual net natural recharge.

C. Beginning with the fifth calendar year following the year in which the district is established, the district shall register a debit to the account not later than May 15 of a calendar year if the preceding calendar year was a drought year for any district member and the district member withdrew drought replacement groundwater during that preceding calendar year. The amount of the debit shall equal the total amount of drought replacement groundwater withdrawn by all district members during that preceding calendar year, up to the amount of any credits in the account. A district member's share of the debit shall be computed by dividing the amount of drought replacement groundwater withdrawn by the district member during that preceding calendar year by the total amount of drought replacement groundwater withdrawn by all district members during that preceding calendar year and multiplying the quotient by the amount of the debit.