AZ HB2577

Establishes a historic main street authority district in each Arizona county, with the county board of supervisors serving as the board of directors without compensation.

Allows county boards to create one authority per city or town within their boundaries to focus on historic preservation and improvements in economically disadvantaged areas (maximum 2 square miles with at least 30% buildings 50+ years old and household median income at least $14,000 below state average).

Authority boards consist of 7 members appointed by county supervisors (chamber of commerce representative, business owner, tourism/trade association member, historic preservation representative, and public member) and city/town manager (one appointed member and one public member).

Authority funds limited to historic preservation, pedestrian-friendly street improvements, road improvements, traffic mitigation, and utility line placement/undergrounding within the designated area.

Department of Revenue distributes 100% of state transaction privilege tax revenues generated within the authority to the authority, capped at $10 million total over the authority's existence, with unspent monies returned to the state upon termination.