AZ SB1537

Modifies tuition and fee deposit procedures at Arizona universities by requiring tuition and fee revenue included in operating budgets to be subject to legislative appropriation and deposited in separate tuition and fees subaccounts for each university rather than retained entirely by universities.

Extends appropriations for lease-purchase capital financing for research infrastructure at Arizona State University, University of Arizona, and Northern Arizona University through fiscal year 2030-2031 with specific annual amounts for each institution and year.

Reduces state general fund appropriations for fiscal years 2014-2015 through 2016-2017 for three universities: Arizona State University ($522,600; $3,045,900; $3,281,700), University of Arizona ($4,659,800; $4,659,400; $274,600), and Northern Arizona University ($408,500; $406,800; $1,653,200).

Allows universities to receive less than the standard two-to-one state match for financial aid trust fund dollars in fiscal year 2016-2017 and defers community college science, technology, engineering and mathematics funding amounts to the general appropriation act.

Sections 15-1626 and 35-146 become effective June 30, 2018, while other provisions apply retroactively to June 30, 2016.