State SealARIZONA HOUSE OF REPRESENTATIVES

 

HB 2123: TPT; distribution; community college districts..

PRIME SPONSOR: Representative Udall, LD 25

BILL STATUS: Engrossed

                               

 

Overview

☐ Prop 105 (45 votes) ☐ Prop 108 (40 votes) ☐ Emergency (40 votes) ☐ Fiscal NoteChanges the formula for distributing monies from an additional transaction privilege tax (TPT) and use tax to educational institutions. 

History

Laws 2018, Chapter 74 established an additional TPT and use tax to be levied from July 1, 2021 until June 30, 2041. This law also established a schedule for prioritizing how monies collected from this additional TPT would be distributed to each educational institution. After $61.4 million is appropriated to the Classroom Site Fund each year, the State Treasurer should distribute 12% of remaining monies to the Technology and Research Initiative Fund, to be distributed among the universities under ABOR's jurisdiction. Following that distribution, the State Treasurer should distribute 3% of remaining monies to the Workforce Development Account in each community college district.

Provisions

1.       Instructs the State Treasurer to distribute 3% of remaining TPT monies, after installments to the Classroom Site Fund, to the Workforce Development Account in each community college district. (Sec. 1) 

 

 

 

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Fifty-fourth Legislature                               HB 2123

First Regular Session                    Version 1: Engrossed

 

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