AZ SB1332

Requires the United States to extinguish title to and transfer all public lands in Arizona to the state by December 31, 2014.

Directs Arizona to retain 5% of net proceeds from sales of transferred public lands for the state school fund and pay 95% to the federal government.

Makes all public lands not transferred by 2015 subject to state assessment, levy, and taxation under Arizona property tax law.

Requires the Public Lands Board of Review to recommend legislation by November 30, 2012 establishing processes for land disposal, managing resource rights, and addressing taxation and federal agency lands.