AZ SB1304

Establishes a joint powers commuter rail authority that two or more cities, towns, Indian tribes, or counties may create through an agreement to own and operate commuter rail projects and related facilities.

Designates the commuter rail authority as a special purpose district, tax levying public improvement district, and municipal corporation with powers to own property, enter contracts, issue revenue bonds, acquire property through eminent domain, and establish user fees.

Requires the authority's board of directors (appointed by member governments) to prepare annual operating budgets by June 1, with member governing bodies approving budgets by August 1 and holding public hearings on budget adoption and funding methods.

Allows member cities, towns, and counties to fund their budget allocation through ad valorem taxes, transaction privilege taxes, general funds, or other legally available monies, with property taxes designated as secondary taxes.

Requires the authority to adopt reuse and development plans and capital improvement plans, with all expenditures limited to items directly relating to commuter rail operations; members failing to approve the budget automatically withdraw from the authority.