AZ SB1318

Amends Arizona Revised Statutes section 42-5031.01 to modify the distribution of transaction privilege tax revenues to qualifying Indian tribes for postsecondary educational institutions on their reservations.

Changes language from "community colleges" to "community college campuses" and adds provisions allowing distribution to an additional technical college located on the same Indian reservation.

Establishes separate revenue caps: up to $1,750,000 or 10% of transaction privilege tax revenues (whichever is less) for a single community college, and up to $875,000 or 5% of revenues (whichever is less) for an additional technical college on the same reservation.

Requires qualifying Indian tribes to enter into compacts with the state by September 1, 2012, lasting at least ten years, with provisions for audits by the auditor general and oversight by the joint legislative budget committee.

Maintains existing requirements that distributed monies be used primarily for capital needs, maintenance, and renewal of existing community college campus facilities on the qualifying Indian tribe's own reservation.