COMMITTEE ON APPROPRIATIONS
HOUSE OF REPRESENTATIVES AMENDMENTS TO S.B. 1161
(Reference to Senate engrossed bill)
Strike everything after the enacting clause and insert:
"Section 1. Section 42-17401, Arizona Revised Statutes, is amended to read:
42-17401. Elderly assistance fund; primary school district tax reduction; definition
A. An elderly assistance fund shall be established by the board of supervisors in a county with a population of more than two million persons to be administered by the county treasurer. The fund shall be used to reduce the primary school district taxes pursuant to subsection B C of this section.
B. tHE BOARD OF SUPERVISORS SHALL SPEND ANY UNSPENT MONIES THAT REMAIN IN THE FUND FROM AND AFTER DECEMBER 31, 2015 SOLELY ON THE ELDERLY ASSISTANCE PROGRAM. aNY SUBSEQUENT APPROPRIATIONS MADE TO THE FUND SHALL ALSO BE SPENT SOLELY ON THE ELDERLY ASSISTANCE PROGRAM. If the balance of monies in the fund is exhausted in any fiscal year, the legislature shall appropriate two million five hundred thousand dollars to the fund in the next fiscal year.
B. C. On June 30 of each year, the county treasurer shall determine the total amount of monies in the elderly assistance fund and the total number of qualified individuals who live in the county. The county treasurer shall use the monies in the fund to proportionately reduce the primary school district taxes that are levied against the property of all qualified individuals in the county for the following tax year.
C. D. The county treasurer shall invest monies in the fund. Interest earned on fund monies shall be deposited in the taxpayer's information fund established by section 11-495.
D. E. For the purposes of this section, "qualified individual" means an individual who lives in an organized school district and who is approved for the property valuation protection option pursuant to article IX, section 18, subsection (7), Constitution of Arizona.
Sec. 2. Retroactivity
Section 42‑17401, Arizona Revised Statutes, as amended by this act, applies retroactively to from and after December 31, 2015."
Amend title to conform