A. The water conservation grant fund is established to be maintained in perpetuity consisting of all the following:

Terms Used In Arizona Laws 49-1331

  • Assets: (1) The property comprising the estate of a deceased person, or (2) the property in a trust account.
  • Authority: means the water infrastructure finance authority of Arizona. See Arizona Laws 49-1201
  • 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.
  • United States: includes the District of Columbia and the territories. See Arizona Laws 1-215

1. Legislative appropriations.

2. Monies received for water conservation purposes from the United States government.

3. Interest and other income received from investing monies in the fund.

4. Gifts, grants and donations received for water conservation purposes from any public or private source.

5. Any other monies received by the authority in connection with the purpose of the fund.

B. Monies in the fund are continuously appropriated and exempt from the provisions of section 35-190 relating to lapsing of appropriations. On notice from the authority, 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. All monies deposited in the fund shall be held in trust. The monies in the fund may not be appropriated or transferred by the legislature to fund the general operations of this state or to otherwise meet the obligations of the state general fund unless approved by a three-fourths vote of the members of each house of the legislature. This subsection does not apply to any taxes or other levies that are imposed pursuant to title 42 or 43.

D. The authority shall administer the fund and establish as many other accounts and subaccounts as required to administer the fund.

E. Monies and other assets in the fund shall be used solely for the purposes authorized by this article.

F. The annual report required by section 49-1204 shall include:

1. The expenditures made from the fund in the previous fiscal year.

2. Whether programs or projects funded by the fund in the previous fiscal year did in fact:

(a) Result in long-term, sustainable reductions in water use.

(b) Improve water use efficiency.

(c) Improve water reliability.

3. The environmental impacts of programs or projects funded by the fund in the previous fiscal year.

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