AZ HB2652

Establishes the Arizona Visitor Industry Development Fund administered by the State Treasurer, consisting of appropriated monies that are continuously available for distribution.

Fund monies may only be used to reimburse public agencies for safety, security, operational, and public activity costs related to eligible events, plus any amounts advanced by eligible organizations.

Eligible events must have over 66% out-of-state attendees, occur annually in different states each year, generate at least $200 million in economic activity, and increase state general fund revenues beyond the distributed amounts.

Eligible organizations (designated by the Governor) must establish separate trust accounts for fund monies and private/local sources, with private and local funding equal to at least one-third of any requested distribution amounts.

State Treasurer may not distribute more than three times the cumulative deposits from private and local sources; any fund balance exceeding $15 million plus future payment obligations must be transferred to the state general fund.