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.
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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.
28-476 - State vehicle replacement fund; exemption
28-476. State vehicle replacement fund; exemption
A. The state vehicle replacement fund is established consisting of payments received from agencies for the vehicle replacement rate pursuant to section 28-472, subsection E, proceeds from the sale of surplus motor vehicles and legislative appropriations. The department may separately account for each agency that pays a vehicle replacement rate pursuant to section 28-472, subsection E.
B. The department shall administer the fund. Monies in the fund are subject to legislative appropriation and are exempt from the provisions of section 35-190 relating to lapsing of appropriations. On notice from the department, the state treasurer shall invest and divest monies in the fund as provided by section 35-313, and monies earned from investment shall be credited to the fund.
C. Notwithstanding subsection B of this section, if an agency's separate account includes monies that are restricted in purpose by state or federal law, the agency shall administer the separate account.