AZ HB2464

Amends Section 35-402 of Arizona Revised Statutes regarding state tax anticipation bonds.

Removes reference to "ad valorem and" from the language describing taxes that must be levied before the state loan commissioners can issue tax anticipation bonds.

Allows state loan commissioners to issue tax anticipation bonds when excise taxes (rather than both ad valorem and excise taxes) are sufficient to cover appropriated expenses if tax proceeds will not be received timely.