AZ HB2676

Amends Arizona Revised Statutes sections 48-4201, 48-4202, 48-4203, and 48-4204 and adds section 48-4235 regarding university athletic facilities districts.

Authorizes county boards of supervisors to establish a university athletic facilities district within a county containing a state-supported university, with boundaries limited to contiguous exterior boundaries of Arizona Board of Regents-owned property.

Establishes that the district board of directors shall be created through intergovernmental agreement between the county and Arizona Board of Regents, with the county treasurer serving as ex officio treasurer.

Permits the district to construct, reconstruct, finance, furnish, maintain and improve intercollegiate athletic facilities on Arizona Board of Regents property using revenues from assessments collected from prime commercial lessees.

Creates a new assessment mechanism in lieu of property tax where the board determines annual assessments on prime commercial lessees of Arizona Board of Regents property, with rates not exceeding composite tax rates of jurisdictions where the property is located.