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       Senate Engrossed
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  State of Arizona
  Senate
  Forty-fifth
  Legislature
  First Regular Session
  2001
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    SENATE BILL 1251
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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 FORTY-TWO PER CENT OF THE REVENUES FROM THE FLIGHT PROPERTY TAX IN THE STATE GENERAL FUND AND FIFTY-EIGHT PER CENT IN THE AVIATION FUND.

3. IN FISCAL YEAR 2002-2003 AND EACH YEAR THEREAFTER, THE STATE TREASURER SHALL DEPOSIT THIRTY-SEVEN PER CENT OF THE REVENUES FROM THE FLIGHT PROPERTY TAX IN THE STATE GENERAL FUND AND SIXTY-THREE PER CENT IN THE AVIATION FUND.