AZ SB1566

Allows Indian tribes to receive 25% of transaction privilege tax (TPT) revenues collected from sources located on their reservations each month for infrastructure development.

Establishes a cap on TPT distributions to qualifying Indian tribes for postsecondary educational institutions: $1,750,000 per single community college or 10% of reservation TPT revenues (whichever is less), and $875,000 per additional technical college or 5% of reservation TPT revenues (whichever is less).

Requires qualifying Indian tribes operating community colleges on their reservations to enter into a compact with the state for at least 20 years, with audits by the auditor general and provisions for capital needs at designated campuses.

Amends section 42-5029 to add a new subsection F establishing the 25% TPT distribution to tribes and clarifying this does not affect other distributions under existing law.

Makes technical corrections to existing law references and dollar amount formatting throughout the tax code sections.