flight property tax;
distribution
SB 1324 increases the distribution of flight property tax (FPT) revenues to the aviation fund by 14 per cent. Consequently, the aviation fund shall receive 64 percent of FPT revenues and the general fund shall receive 36 per cent of FPT revenues.
History:
Laws 1997, First Special Session, Chapter 3, required 50 per cent of FPT collections to be deposited into the general fund instead of the aviation fund.
Originally, FPT collections were deposited into the general fund, but over the years an increasing percentage of FPT revenues were deposited into the aviation fund. As of 1989, all FPT revenues were deposited into the aviation fund until 1997 when 50 per cent of the FPT revenues were trsnsferred to the general fund.
Current statute requires the Arizona Department of Transportation to administer the aviation fund. The state aviation fund is a grant source for eligible airports for planning, development and construction.
Provisions:
· Redirects an additional 14 percent of FPT revenues from the state general fund to the aviation fund.
SB 1324 passed the Transportation Committee
unamended.
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44th Legislature Analyst
Initials _______
Second Regular Session March 9, 2000
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