AZ SB1285

Establishes the game and fish in-lieu fee program restoration endowment trust fund administered by the Arizona Game and Fish Commission to fulfill federal Clean Water Act mitigation obligations as an in-lieu fee sponsor.

Fund consists of compensatory mitigation monies from federal permittees purchasing in-lieu fee credits, monies from the Army Corps of Engineers for approved in-lieu fee programs, and settlement monies from federal enforcement actions under Clean Water Act sections 401 and 404.

Designates the trust fund as a permanent endowment with continuously appropriated monies that do not revert to the state general fund and are exempt from lapsing appropriations requirements.

Permits fund expenditures only for purposes authorized by agreements with the Army Corps of Engineers and EPA, and for site selection, design, implementation, monitoring, management and administrative costs related to in-lieu fee sponsor responsibilities.

Amends section 35-142 to establish the trust fund as a separate account held by the state treasurer, with interest and investment income credited to the fund and monies kept separate from the state general fund except for investment purposes.