AZ HB2031

Amends Arizona Revised Statutes section 38-735 regarding payment of contributions to the Arizona State Retirement System (ASRS).

Clarifies that delinquent employer contribution payments to ASRS accrue interest at an annual rate equal to the board-approved interest rate assumption for actuarial equivalency.

Replaces reference to "excise revenue" with "transaction privilege" taxes as the source of funds that may be deducted from state payments to recover delinquent contributions from political subdivisions.

Authorizes ASRS to recover delinquent payments with interest through court action or by requesting deduction from other monies owed to the political subdivision by state departments or agencies.