AZ HB2597

Repeals a prior version of section 41-194.01 and amends it to maintain the attorney general's authority to investigate and enforce violations of state law by local governments, with procedures for withholding and redistributing state shared revenues.

Establishes a new tribal nations economic development, public safety and infrastructure fund receiving transaction privilege tax (TPT) revenues collected from sources located on Indian reservations, with monies distributed as grants up to $1,000,000 per tribal nation.

Requires monthly transmission of TPT revenues from Indian reservation sources to qualifying Indian tribes for postsecondary educational institutions, subject to fiscal year caps of $1,750,000 per community college or $875,000 per technical college, whichever is less.

Modifies distribution procedures for TPT revenues by separately accounting for revenues from Indian reservation sources and directing them through the tribal revenue distribution process before depositing remainder amounts in the new tribal nations fund.

Exempts the department of revenue from rulemaking requirements for one year following the act's effective date and applies the bill to taxable periods beginning the month after the general effective date.