A. The due diligence fund is established. The commissioner may use monies in the fund to pay the department‘s costs of evaluating and processing applications and otherwise preparing lands for sales, leases, rights-of-way or other use permits.

Terms Used In Arizona Laws 37-110

  • Appropriation: The provision of funds, through an annual appropriations act or a permanent law, for federal agencies to make payments out of the Treasury for specified purposes. The formal federal spending process consists of two sequential steps: authorization
  • Commissioner: means the state land commissioner. See Arizona Laws 37-101
  • Department: means the state land department. See Arizona Laws 37-101

B. The fund consists of legislative appropriations and reimbursements to the department by winning bidders for the department’s costs of advance due diligence investigations and analyses pursuant to subsection A of this section. Monies in the fund are subject to legislative appropriation.

C. The commissioner shall administer the fund. Monies in the fund are exempt from the provisions of section 35-190 relating to the lapsing of appropriations, except that all monies in the fund exceeding $5,000,000 at any time revert to the state general fund.

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