AZ SB1187

Establishes the public safety investment fund administered by the State Treasurer, funded by legislative appropriations and consisting of monies to be distributed to city and town police departments.

Requires the State Treasurer to distribute funds to city and town police departments for equipment and training, with a maximum of $250,000 per fiscal year per municipality.

Prioritizes distribution of monies to cities and towns with populations under 150,000 persons.

Appropriates $45,000,000 from the state general fund in fiscal year 2023-2024 to the public safety investment fund.

Authorizes the State Treasurer to hire one additional full-time position and spend up to $250,000 to administer the fund, with an exemption from lapsing appropriations requirements.