Reference Title: PSPRS; department of agriculture inspectors

AN ACT
AMENDING SECTION 43-206, ARIZONA REVISED STATUTES; MAKING AN APPROPRIATION; RELATING TO URBAN REVENUE SHARING.

Be it enacted by the Legislature of the State of Arizona:

Section 1. Section 43-206, Arizona Revised Statutes, is amended to read:

43-206 . Urban revenue sharing fund; allocation; distribution

A. There is established an urban revenue sharing fund which shall, each fiscal year through fiscal year 1998-1999, consist of an amount equivalent to fifteen per cent of the net proceeds of the state income taxes for the fiscal year two years prior to the current fiscal year. For fiscal year 1999-2000 and each fiscal year thereafter, the urban revenue sharing fund shall consist of an amount equivalent to fifteen and eight-tenths per cent of the net proceeds of the state income taxes for the fiscal year two years prior to the current fiscal year. FOR FISCAL YEAR 2000-2001 AND EACH FISCAL YEAR THEREAFTER, THE URBAN REVENUE SHARING FUND SHALL CONSIST OF AN AMOUNT EQUAL TO FIFTEEN PER CENT OF THE NET PROCEEDS OF THE STATE INCOME TAXES FOR THE FISCAL YEAR TWO YEARS PRECEDING THE CURRENT FISCAL YEAR. The fund shall be distributed to incorporated cities and towns as provided in this section. The transfer of net proceeds prescribed by section 49-282, subsection B does not affect the calculation of net proceeds prescribed by this subsection.

B. Each city or town shall share in the urban revenue sharing fund in the proportion that the population of each bears to the population of all as determined by the United States bureau of the census in the last decennial census or special census pursuant to section 42-5033.

C. The treasurer, upon instruction from the department, shall transmit, no later than the tenth day of each month, to each city or town an amount equal to one-twelfth of that city's or town's total entitlement for the current fiscal year from the urban revenue sharing fund as determined by the department.

D. A newly incorporated city or town shall share in the urban revenue sharing fund beginning the first month of the first full fiscal year following incorporation.

E. On receipt of a certificate of default from the greater Arizona development authority pursuant to section 41-1554.06 or 41-1554.07, the state treasurer, to the extent not otherwise expressly prohibited by law, shall withhold from the next succeeding distribution of monies pursuant to this section due to the city or town the amount specified in the certificate of default and immediately deposit the amount withheld in the greater Arizona development authority revolving fund. The state treasurer shall continue to withhold and deposit the monies until the authority certifies to the state treasurer that the default has been cured. In no event shall the state treasurer withhold any amount that is necessary, as certified by the defaulting political subdivision to the state treasurer and the authority, to make any required deposits then due for the payment of principal and interest on bonds of the political subdivision that were issued prior to the date of the loan repayment agreement or bonds and that have been secured by a pledge of distributions made pursuant to this section.

Sec. 2. Appropriation

A. The sum of $2,000,000 is appropriated from the state general fund to the state treasurer in fiscal year 2000-2001 for distribution to cities and towns having populations not exceeding sixty thousand persons according to the most recent United States decennial census, or special census pursuant to section 42-5033, Arizona Revised Statutes.

B. The state treasurer shall pay the appropriated monies in twelve equal monthly installments to the qualifying cities and towns in the proportion that the population of each qualifying city or town bears to the population of all qualifying cities and towns.

APPROVED BY THE GOVERNOR MAY 19, 1999.

FILED IN THE OFFICE OF THE SECRETARY OF STATE MAY 19, 1999.