AZ SB1268

Amends Arizona law to modify transaction privilege tax (TPT) revenue distributions to Indian tribes for tribal college campus maintenance, renewal, and capital expenses.

Changes the compact review and renewal process to occur during the fourth year before expiration (rather than prior to expiration) and allows amendments and renewal for additional 20-year terms.

Modifies funding caps for additional technical universities on the same reservation: increases cap to $1,875,000 or 15.7% of TPT revenues (whichever is less) for fiscal years 2019-2020 through 2025-2026, then reverts to $875,000 or 5% for fiscal year 2026-2027 and beyond.

Clarifies language regarding cost reimbursements to the Department of Revenue and formatting of dollar amounts throughout the statute.

Maintains existing provisions requiring compacts with the state, audits by the Auditor General, and defines "qualifying Indian tribe" as tribes owning, operating, and chartering community colleges on their own reservations in Arizona.