AZ HB2319

Distributes 50% of transaction privilege tax (TPT) revenues collected on Indian reservations directly to tribes for telecommunications infrastructure and community development projects, including multipurpose buildings, infrastructure, and roads on tribal reservations.

Establishes a compact requirement between qualifying Indian tribes and the state (by September 1, 2017) before tribes can receive TPT revenues, with terms of at least 10 years and audits by the auditor general.

Caps annual TPT distributions to tribes at $1.75 million per single community college or 10% of reservation revenues (whichever is less), and $875,000 per additional technical college or 5% of reservation revenues (whichever is less).

Allows tribes to use distributed monies for bonding or collateral for loans to support the specified development purposes.

Makes technical corrections to municipal tax incentive penalty provisions and cross-references within the transaction privilege tax distribution statutes.