AZ SB1315

Adds Chapter 1.1 to Title 35, Arizona Revised Statutes, establishing procedures for appropriating federal monies received by the state.

Defines "noncustodial federal monies" to include block grants, revenue sharing funds, and federal funds that provide the state broad spending discretion, excluding funds for universities, military affairs, and direct school district allocations.

Requires budget units to account for noncustodial federal monies in separate accounts and allows the Legislature to retain authority to appropriate these funds or permit budget units to administer them if no appropriation is made.

Specifies that appropriations must be proportionally reduced if federal funds received fall short, and excess federal funds must be credited to the appropriate budget unit account if amounts exceed appropriations.

Becomes effective December 31, 2015.