Bill Text: AZ HB2726 | 2022 | Fifty-fifth Legislature 2nd Regular | Introduced
Bill Title: Severance tax; distribution; cities; towns
Spectrum: Partisan Bill (Republican 2-0)
Status: (Introduced - Dead) 2022-02-22 - House minority caucus: Do pass [HB2726 Detail]
Download: Arizona-2022-HB2726-Introduced.html
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REFERENCE TITLE: severance tax; distribution; cities; towns |
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State of Arizona House of Representatives Fifty-fifth Legislature Second Regular Session 2022
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HB 2726 |
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Introduced by Representatives Martinez: Bowers
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AN ACT
amending section 42-5205, Arizona Revised Statutes; relating to severance tax.
(TEXT OF BILL BEGINS ON NEXT PAGE)
Be it enacted by the Legislature of the State of Arizona:
Section 1. Section 42-5205, Arizona Revised Statutes, is amended to read:
42-5205. Administration; allocation of revenues
A. Except as otherwise provided in this section, or unless the context otherwise requires, article 1 of this chapter governs the administration of the tax imposed by this article.
B. The revenue derived from eighty per cent percent of the tax rate imposed by this chapter is designated as distribution base and shall be distributed as follows:
1. two and one-half percent to cities and towns with populations of less than fifteen thousand persons that are located in counties with a population of less than nine hundred thousand persons in proportion to the city's or town's population to be used for any municipal purpose.
2. The remaining amount, pursuant to section 42-5029, subsection D.
C. The revenue derived from twenty per cent percent of the tax rate imposed by this chapter shall be credited to the state general fund and appropriated each year for public educational purposes.
Sec. 2. Effective date
This act is effective from and after June 30, 2023.
