The Arizona Revised Statutes have been updated to include the revised sections from the 57th Legislature, 2nd Regular Session. Please note that the next update of this compilation will not take place until after the conclusion of the 58th Legislature, 1st Regular Session, which convenes in January 2027.
DISCLAIMER
This online version of the Arizona Revised Statutes is primarily maintained for legislative drafting purposes and reflects the version of law that is effective on January 1st of the year following the most recent legislative session. The official version of the Arizona Revised Statutes is published by Thomson Reuters.
A. The trust land management fund is established. The fund consists of fees collected pursuant to section 37-107.
B. The monies in the fund:
1. Are subject to legislative appropriation. The department may retain an amount of monies from the fund that is sufficient to pay the department's costs for contracting with a qualified third-party reviewer as prescribed in section 37-132, subsection A, paragraph 12.
2. Shall be used to manage trust lands as prescribed by law and to prepare state lands for sale or lease as prescribed by law.
3. May be used to award department-wide, performance-based incentives as prescribed in section 38-618. For the purposes of this paragraph, the commissioner may only use monies collected pursuant to section 37-107, subsection B, paragraph 1 and the commissioner may not divert more than ten percent of the revenues collected pursuant to section 37-107, subsection B, paragraph 1 in any one fiscal year.
C. The commissioner shall administer the fund. On notice from the commissioner, the state treasurer shall invest and divest monies in the fund as provided by section 35-313, and monies earned from investment shall be credited to the fund.
D. Monies in the fund are exempt from the provisions of section 35-190 relating to lapsing of appropriations, but if the balance in the fund at the end of any fiscal year exceeds two times the budget of the department for the management of trust lands for the next fiscal year, the excess amount shall be credited proportionately to the several permanent funds based on the last fiscal year's deposits.
E. This section does not prevent the legislature from appropriating state general fund monies for the purposes described in this section.