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AZ SB1286

Bill

Official Source

Status

Introduced

1/24/2022

Primary Sponsor

Michelle Ugenti-Rita

Click for details

Origin

Senate

Fifty-fifth Legislature - Second Regular Session (2022)

AI Summary

  • Amends Arizona Revised Statutes Section 35-402 regarding the issuance of state tax anticipation bonds
  • Removes the phrase "ad valorem and" from the statute, modifying the tax types that trigger bond issuance authority
  • State loan commissioners may issue tax anticipation bonds when excise taxes (rather than ad valorem and excise taxes) are insufficient to cover appropriated expenses before tax collection
  • The amendment clarifies that tax anticipation bonds can be issued based on excise tax collection timing alone

Legislative Description

State bonds; technical correction

Technical Correction

Last Action

Senate read second time

1/25/2022

Committee Referrals

Rules1/24/2022

Full Bill Text

No bill text available