AZ SB1319

Distributes 50% of transaction privilege tax (TPT) revenues collected from sources located on Indian reservations to the respective Indian tribes for telecommunication infrastructure and community development projects on the reservation.

Allows Indian tribes to use received monies for bonding or as collateral for loans for authorized infrastructure and development purposes.

Caps annual distributions to qualifying Indian tribes for postsecondary educational institutions at the lesser of $1.75 million or one-tenth of TPT revenues received from the reservation.

Requires qualifying Indian tribes to enter into a ten-year compact with the state, signed by the governor, before receiving any monies, with provisions for audits by the auditor general.

Makes technical corrections to section 42-6010 regarding municipal tax incentives for retail business facilities.