AZ SB1440

Amends Arizona Revised Statutes section 42-5031.01 to modify distribution of transaction privilege tax revenues to qualifying Indian tribes for community college support.

Requires state treasurer to transmit monthly tax revenues from sources on Indian reservations to tribes with community colleges, conditioned on a compact signed by the governor for a minimum 10-year term.

Establishes revenue sharing caps: if annual revenues from a reservation exceed $10 million, tribes receive one-tenth of revenues but not less than $1.75 million; if revenues do not exceed $10 million, tribes receive one-tenth of those revenues.

Restricts use of distributed monies to maintenance, renewal, and capital expenses for community colleges owned, operated, or chartered by the tribes on their own reservations.

Requires audits by the auditor general and permits reimbursement to the department of revenue for implementation costs not exceeding $150,000 from the distributed revenues.