A. The tax monies accruing to the counties under this article shall be credited to the general fund of each respective county.

Terms Used In Arizona Laws 42-5035

  • Department: means the department of revenue. See Arizona Laws 42-1001
  • Fiscal year: The fiscal year is the accounting period for the government. For the federal government, this begins on October 1 and ends on September 30. The fiscal year is designated by the calendar year in which it ends; for example, fiscal year 2006 begins on October 1, 2005 and ends on September 30, 2006.
  • Obligation: An order placed, contract awarded, service received, or similar transaction during a given period that will require payments during the same or a future period.
  • Property: includes both real and personal property. See Arizona Laws 1-215

B. The department, on or before the first Monday of July each year, shall estimate the anticipated tax monies to be collected under this article payable to each county of the state under this article during the ensuing fiscal year, and shall forthwith transmit the estimate to each county treasurer. The board of supervisors may include the estimate in the county’s budget in its estimate of receipts from sources other than property taxes.

C. No debt, obligation or liability shall be paid or liquidated from any portion of the tax collected under this article which is credited to the county general fund unless it is for an item or purpose specific in amount included in the budget.

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