Bill Text: AZ SB1142 | 2019 | Fifty-fourth Legislature 1st Regular | Chaptered
Bill Title: Trust land fund monies; distributions
Spectrum: Slight Partisan Bill (Republican 6-3)
Status: (Passed) 2019-04-11 - Chapter 82 [SB1142 Detail]
Download: Arizona-2019-SB1142-Chaptered.html
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Senate Engrossed |
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State of Arizona Senate Fifty-fourth Legislature First Regular Session 2019
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CHAPTER 82
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SENATE BILL 1142 |
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AN ACT
amending Section 35-319, Arizona Revised Statutes; relating to state trust land fund monies.
(TEXT OF BILL BEGINS ON NEXT PAGE)
Be it enacted by the Legislature of the State of Arizona:
Section 1. Section 35-319, Arizona Revised Statutes, is amended to read:
35-319. Permanent state trust land fund monies; state board of investment; state treasurer; duties; distributions; mandamus action
A. Notwithstanding any other law, the state board of investment and the state treasurer shall take all actions necessary for the distributions to be made pursuant to article X, section 7, Constitution of Arizona, and sections 37‑521, 37‑522, 37‑523, 37‑524 and 37‑525. The distributions shall be made on the fifteenth on or before the last business day of each month.
B. If the state board of investment or the state treasurer fails to perform the duties prescribed in subsection A of this section, the governor, the speaker of the house of representatives or the president of the senate may file an action with the supreme court to obtain a writ of mandamus under section 12‑2021 or other appropriate action to compel performance of the board's or treasurer's duties. The supreme court shall exercise its jurisdiction under article VI, section 5, subsection 1, Constitution of Arizona, and section 12‑2021 and issue its decision as expeditiously as practicable.
APPROVED BY THE GOVERNOR APRIL 11, 2019.
FILED IN THE OFFICE OF THE SECRETARY OF STATE APRIL 11, 2019.
