AZ HB2522

Distributes 50% of transaction privilege tax (TPT) revenues collected on Indian reservations directly to the respective Indian tribes for telecommunications infrastructure and community development projects on their reservations.

Allows Indian tribes to use received revenues for bonding or collateral for loans related to telecommunications and community development purposes.

Establishes that TPT revenues from Indian reservations not distributed to tribes are credited to the state general fund, without changing distributions already prescribed for education and other programs.

Limits annual distributions to qualifying Indian tribes for postsecondary educational institutions to the lesser of $1,750,000 or one-tenth of TPT revenues received from sources on the reservation.

Makes technical corrections to references in the municipal tax incentive penalties section, changing "affect" to "effect" and updating subsection cross-references.