AZ SB1296

Amends Arizona Revised Statutes section 15-1409 regarding provisional community college districts and their operations.

Allows provisional community college districts to issue bonds for capital outlay purposes with the governing board solely responsible for encumbrance and expenditure approval.

Clarifies that counties forming provisional community college districts must continue reimbursement payments to community college districts for the remainder of the fiscal year in which the provisional district is formed, contingent on the county board adopting an adequate levy.

Permits county boards of supervisors to loan up to $200,000 to provisional community college district governing boards with repayment from the next scheduled property tax collection and interest not exceeding 5% annually.

Makes the act retroactively effective from May 16, 2010.