AZ HB2522

Amends section 11-495 to remove interest earned from the elderly assistance fund as a revenue source for county taxpayers' information funds.

Establishes a new elderly assistance fund administered by the state treasurer, funded through legislative appropriations and continuously available for distribution.

State treasurer distributes monies from the elderly assistance fund to county treasurers, which use the funds to proportionately reduce primary school district taxes for qualified individuals (those approved for the property valuation protection option under the Arizona Constitution).

County treasurers must report the total number of qualified individuals in their county to the state treasurer by June 30 each year, or that county forfeits its distribution from the fund for the following fiscal year.

Repeals title 42, chapter 17, article 8, Arizona Revised Statutes, effective December 31, 2022.