AZ SB1088

Amends Arizona Revised Statutes section 15-1647 regarding Arizona State University's distribution of licensing and patent income.

Clarifies that ASU must distribute gross or net income derived from licensing and patent revenues, including up-front payments, royalties, and other revenue from commercialization of anticancer, antiviral, antifungal, and antimicrobial drug discoveries or inventions.

Requires ASU to provide an audited annual report detailing the distribution of income, expenditures, and actual expenses.

Modifies the distribution list for the annual report to include the Arizona Board of Regents president, governor, senate president, house speaker, and secretary of state.