The Arizona Revised Statutes have been updated to include the revised sections from the 56th Legislature, 1st Regular Session. Please note that the next update of this compilation will not take place until after the conclusion of the 56th Legislature, 2nd Regular Session, which convenes in January 2024.
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. An eligible city may not spend monies from the Arizona convention center development fund for uses other than those permitted by section 9-603 and only in connection with an eligible convention center development project.
B. A project is eligible only if:
1. The voters of the eligible city have approved the project and any required financing for the project.
2. Specifically identified municipal sources have been dedicated to provide funding for at least one-half of the total project cost.
3. The total cost of the project does not exceed six hundred million dollars.
C. In the case of an eligible city described in section 9-604, paragraph 2, subdivision (b), a project is eligible under this section only if:
1. The joint legislative budget committee has conducted a financial analysis of the proposed project that indicates that the project will result in an increase in state general fund revenues greater than the amounts of distributions pursuant to section 9-602 in connection with the project.
2. The total cost of the project does not exceed sixty million dollars.