AZ HB2631

Establishes the state capitol centennial restoration trust fund to receive revenues for restoration and maintenance of the state capitol building, administered by the legislative governmental mall commission.

Creates economic recapture districts that can be formed by municipalities or counties from October 1, 2010 through June 30, 2017, with boundaries limited to 15 percent of any jurisdiction's land area and aligned with census block boundaries.

Directs the state treasurer to distribute one-half of net new state transaction privilege tax revenues collected within each district equally between the district and the state capitol restoration trust fund, with the remainder going to the general fund.

Authorizes districts to issue bonds, acquire and manage property, and make qualified expenditures for public infrastructure and facilities related to tourism, sporting, cultural, and civic events.

Requires all districts to terminate by June 30, 2051, with assets and unexpended monies transferred to participating jurisdictions upon dissolution.