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.
15-1468 - Equalization aid for community college districts
15-1468. Equalization aid for community college districts
A. Subject to legislative appropriation, any district that is organized pursuant to section 15-1402 and that has less than the amount of primary assessed valuation prescribed in section 15-1402 shall be paid by this state an amount equal to the following:
1. The difference between the prior year's actual primary assessed valuation of the district and the amount of primary assessed valuation prescribed in section 15-1402.
2. The actual prior year's primary property tax rate for the district.
3. The difference determined in paragraph 1 multiplied by the lesser of the tax rate determined in paragraph 2 or one dollar thirty-seven cents.
B. The equalization aid provided for in subsection A of this section shall be used for the same purposes specified in section 15-1462 and shall be apportioned to any qualifying district pursuant to section 15-1467.
C. This section does not apply to community college districts organized pursuant to section 15-1402.01 or to community college tuition financing districts as prescribed in section 15-1409.