AZ SB1319

Amends Arizona Revised Statutes Section 42-5031.01 to extend the deadline for Indian tribes to enter into a compact with the state from September 1, 2012 to September 1, 2016 in order to receive transaction privilege tax revenues.

Requires the compact to mandate that distributed monies be used primarily for capital needs, including maintenance and renewal of existing facilities at designated community college campuses on the tribe's reservation.

Establishes caps on annual distributions: up to $1.75 million 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 the auditor general to conduct audits of monies usage and submit copies to the joint legislative budget committee.

Allows reimbursement to the department of revenue for implementation costs not to exceed $150,000 from revenues otherwise payable to the qualifying Indian tribe.