AZ SB1467

State treasurer must distribute a percentage (amount unspecified in blank) of monthly transaction privilege tax revenues collected on Indian reservations to each qualifying Indian tribe for use on their reservation.

Qualifying Indian tribes must enter into a compact with the state governor before receiving funds, requiring establishment of a segregated special fund account and annual submission of economic development and infrastructure plans.

Distributed monies must be used primarily for economic development and infrastructure development on the tribe's reservation, including roads, water/sewer facilities, communications, flood control, public safety, and job creation projects.

The auditor general must audit the use of distributed monies and submit copies to the joint legislative budget committee; compact may require reimbursement to the Department of Revenue for implementation costs not exceeding $150,000.

"Qualifying Indian tribe" means any federally-recognized Indian nation, tribe, band, or community holding trust lands in Arizona; unused monies are retained by tribes for future economic development activities.