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AZ SB1138
Bill
Status
1/22/2024
Primary Sponsor
Sally Gonzales
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AI Summary
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Amends Section 5-832 of the Arizona Revised Statutes regarding the tourism and sports authority's general fund management.
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Clarifies that if liquid assets in the fund, account, or subaccount become insufficient to meet statutory obligations, the board shall direct the treasurer to liquidate securities and notify the auditor general.
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Requires the auditor general to investigate and audit the circumstances surrounding the depletion of the fund, account, or subaccount and report findings to the board.
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Makes technical corrections to statutory language regarding fund investment requirements and asset management procedures.
Legislative Description
Tourism; sports authority; technical correction
Technical Correction
Last Action
Senate read second time
1/23/2024