Bill Text: AZ SB1005 | 2010 | Forty-ninth Legislature 7th Special | Engrossed

Bill Title: General government; budget reconciliation; 2010-2011.

Spectrum: Partisan Bill (Republican 1-0)

Status: (Introduced - Dead) 2010-03-11 - Senate Committee of the Whole action: Do Pass [SB1005 Detail]

Download: Arizona-2010-SB1005-Engrossed.html




Senate Engrossed





State of Arizona


Forty-ninth Legislature

Seventh Special Session










amending section 35‑316, Arizona Revised Statutes; Repealing Laws 2007, chapter 260, section 6, as amended by Laws 2008, chapter 291, section 7 and Laws 2009, third special session, chapter 7, section 22; making appropriations and appropriation reductions; relating to general government budget reconciliation.





Be it enacted by the Legislature of the State of Arizona:

Section 1.  Section 35-316, Arizona Revised Statutes, is amended to read:

START_STATUTE35-316.  Investment pools; deduction; operating fund

A.  The state treasurer may establish and maintain investment pools for the collective investment of trust monies in this state.

B.  The state treasurer may deposit operating monies in the investment pools and receive into such pools any monies a state agency, county, city or town or any other political subdivision or public entity in this state may supply.  When a depositor provides monies, the state treasurer may ask the depositor to specify the date or dates on which the monies will be withdrawn. All investment pools shall be invested by the state treasurer for such periods as will facilitate the highest return on the monies deposited and provide the required liquidity to the depositors.

C.  The state treasurer shall compute on a monthly basis the rate of earnings on the investment pools for that month, and, except as provided in subsection D, each depositor shall be credited with an amount determined by applying the calculated monthly rate to the principal amount of its deposit balance for the period of the deposit.  Interest shall be credited monthly promptly after calculation.

D.  The state treasurer may deduct monthly a management fee not to exceed six-hundredths of one per cent from the rate of earnings calculated pursuant to subsection C on investment pools other than permanent endowment funds for the operating budget appropriated to the state treasurer's office each fiscal year.

E.  The state treasurer's operating fund is established consisting of monies collected pursuant to subsection D.  The state treasurer's office shall administer the state treasurer's operating fund.  Monies in the fund are subject to legislative appropriation.  Any excess management fees collected each month in excess of the amount appropriated to the state treasurer's office from the state treasurer's operating fund shall be deposited in the state general fund. END_STATUTE

Sec. 2.  Repeal; Arizona twenty‑first century competitive initiative appropriation

Laws 2007, chapter 260, section 6, as amended by Laws 2008, chapter 291, section 7 and Laws 2009, third special session, chapter 7, section 22, is repealed.

Sec. 3.  Reduction; appropriation; fiscal year 2010-2011

A.  The sum of $2,492,400 is reduced from state general fund appropriations made in fiscal year 2010‑2011 to the state treasurer.

B.  The sum of $2,492,400 is appropriated from the state treasurer's operating fund established by section 35‑316, Arizona Revised Statutes, as amended by this act, in fiscal year 2010‑2011 to the state treasurer.

Sec. 4.  Appropriation reduction; military installation fund

Notwithstanding section 41‑1512.02, Arizona Revised Statutes, the appropriation to the military installation fund from the state general fund is reduced by $2,800,000 in fiscal year 2010‑2011.

Sec. 5.  Declaration of emergency; limitation

Notwithstanding section 35‑192, Arizona Revised Statutes, or any other law, the aggregate amount of all liabilities incurred during a declaration of emergency shall not exceed $2,900,000 in fiscal year 2010‑2011.

Sec. 6.  Department of commerce; operating expenses

Notwithstanding any other law, for fiscal year 2010-2011, the department of commerce may use monies appropriated from the state general fund, state lottery fund monies allocated to the commerce and economic development fund pursuant to section 5‑522, Arizona Revised Statutes, and monies in the bond fund and commerce and economic development commission fund established by section 41‑1505.10, Arizona Revised Statutes, to administer programs that attract and retain jobs in this state and to pay for associated direct, indirect and other costs.

Sec. 7.  Delayed implementation; professional employer organization registration

Notwithstanding any other law, the secretary of state shall not implement title 23, chapter 3, article 4, Arizona Revised Statutes, relating to professional employer organization registration, or any rules adopted pursuant to title 23, chapter 3, article 4, Arizona Revised Statutes, until July 1, 2011.