----------------------------------------------------------- ¦ REFERENCE TITLE: flight property tax revenue distribution ¦ ----------------------------------------------------------- ¦ ¦ ¦ ¦ ¦ ¦ ¦ State of Arizona ¦ ¦ Senate ¦ ¦ Forty-fifth Legislature ¦ ¦ First Regular Session ¦ ¦ 2001 ¦ ----------------------------------------------------------- ¦ SB 1251 ¦ ----------------------------------------------------------- ¦ Introduced by ¦ ¦ Senator Cirillo ¦ -----------------------------------------------------------
AN ACT
AMENDING LAWS 1997, FIRST SPECIAL SESSION, CHAPTER 3, SECTION 5, AS AMENDED BY LAWS 1999, FIRST SPECIAL SESSION, CHAPTER 3, SECTION 9; RELATING TO DEPOSIT OF FLIGHT PROPERTY TAX REVENUES.
(TEXT OF BILL BEGINS ON NEXT PAGE)
Be it enacted by the Legislature of the State of Arizona:
Section 1. Laws 1997, first special session, chapter 3, section 5, as amended by Laws 1999, first special session, chapter 3, section 9, is amended to read:
Sec. 5. Flight property tax; distribution of monies
Notwithstanding section 42-14255, subsection A, Arizona Revised Statutes: ,
1. IN FISCAL YEARS 1997-1998 THROUGH 2000-2001, the state treasurer shall deposit fifty per cent of the revenues from the flight property tax in the state general fund and fifty per cent in the aviation fund.
2. IN FISCAL YEAR 2001-2002, THE STATE TREASURER SHALL DEPOSIT ONE-THIRD OF THE REVENUES FROM THE FLIGHT PROPERTY TAX IN THE STATE GENERAL FUND AND TWO-THIRDS IN THE AVIATION FUND.
3. IN FISCAL YEAR 2002-2003, THE STATE TREASURER SHALL DEPOSIT ONE-FOURTH OF THE REVENUES FROM THE FLIGHT PROPERTY TAX IN THE STATE GENERAL FUND AND THREE-FOURTHS IN THE AVIATION FUND.
Sec. 2. Legislative intent
It is the intent of the legislature that for fiscal year 2003-2004 and each fiscal year thereafter, all revenues from the flight property tax shall be deposited in the aviation fund as provided by section 42-14255, Arizona Revised Statutes.