SB 1273 Summary

• Authorizes the Arizona Department of Transportation to issue special license plates for a global graduate management school if $32,000 is paid by December 31, 2010 for implementation costs.

• Sets the special plate fee at $25 annually, with $8 going to the state highway fund as an administration fee and $17 deposited into a new global graduate management school special plate fund.

• Establishes the global graduate management school special plate fund to reimburse the initial $32,000 implementation cost, with remaining monies allocated annually to a graduate management school focused exclusively on global business education.

• Limits administrative costs to 10 percent of annual fund deposits and allows the school to use allocated monies for operations and educating global business leaders.

• Allows personalized special plates to be combined with global graduate management school plates subject to applicable fees.