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AZ HB2725

Bill

Status

Introduced

2/9/2011

Primary Sponsor

Stephen Pierce

Click for details

Origin

House of Representatives

Fiftieth Legislature - First Regular Session (2011)

AI Summary

  • Renames multiple agricultural "revolving funds" to "trust funds" throughout Arizona statutes and establishes them as non-state treasury funds administered by the director as trustee.

  • Allows trust funds to be deposited in state treasury or approved banks, with state treasurer holding deposits as trust monies and investing them under section 35-314.03, with earnings credited back to the funds.

  • Specifies that trust fund beneficiaries are the respective agricultural programs, funds are used exclusively for those programs on director's order, and surplus/unexpended balances do not revert to state general fund.

  • Removes references to legislative appropriation requirements for fund expenditures, making funds continuously available for their designated agricultural purposes without annual appropriation.

  • Applies these trust fund provisions to agricultural programs including dangerous plants/pests/diseases, seeds, fertilizer materials, pesticides, citrus/fruit/vegetables, grain research, eggs, protected native plants, livestock custody, commercial feed, aquaculture, and agricultural consulting/training.

Legislative Description

Agriculture trust funds

Last Action

Referred to House APPROP Committee

2/17/2011

Full Bill Text

No bill text available