A. On an annual basis, a utility shall transmit all abandoned deposits to a qualified fuel fund entity. The qualified fuel fund entity that receives any monies under this section shall provide assistance to eligible recipients in making utility deposits and owner repairs or replacement of utility related appliances or systems.

B. An abandoned deposit shall be transmitted to a qualified fuel fund entity. Any utility that delivers these refund payments to a qualified fuel fund entity in good faith is relieved of all liability to the extent of any refund payment delivered for any claim then existing or that thereafter may arise or be made in respect to the property. This subsection does not apply to any refund subject to section 44-302, subsection A, paragraph 11 or to any refund that the court or agency order provides will be held by a person other than the utility.

C. On or before December 1 of each year, the qualified fuel fund entity shall submit a written report to the governor, the president of the senate and the speaker of the house of representatives and shall provide a copy of this report to the director of the Arizona state library, archives and public records. The report shall describe the actions and expenditures of the qualified fuel fund entity during the previous year.

D. For the purposes of this section:

1. "Abandoned deposit" means a deposit, including any interest on the deposit, that is made by a subscriber with a utility to secure payment or any amount that is paid in advance for utility services to be furnished, less any lawful deductions or any amount held by a utility that the utility has been ordered to refund by a court or administrative agency, and that remains unclaimed by the subscriber for more than two years after the termination of the services for which the deposit or advance payment was made, or for more than two years after the refund becomes payable and distribution occurs pursuant to the final order of the court or administrative agency that has jurisdiction to establish the terms and conditions of the refund.

2. "Qualified fuel fund entity" means a private community-based nonprofit entity that is recognized under section 501(c)(3) of the internal revenue code and that has a fuel fund established for the purposes of accepting private and public monies to provide utility assistance pursuant to subsection A of this section to low income residents in this state, including members of an Indian tribe who reside on an Indian reservation.

3. "Utility" means a person that, for public use, transmits, sells, delivers or furnishes electricity, water, gas, sewer or telecommunications services.