41-176 - Arizona Statutes

41-176. Navajo-Hopi land dispute county settlement fund; investment; distribution; exemption A. A Navajo-Hopi land dispute county settlement fund is established consisting of the monies received by this state from the United States as a result of the Navajo-Hopi land dispute settlement act of 1996 (25 United States Code section 640(d)-NOTE). B. The state treasurer shall administer the fund as a continuing appropriation and 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. In consultation with the counties, each year the state treasurer shall pay to each county a share of the fund monies earned from investment based on the percentage of total land in each county that is owned by the Hopi tribe that is removed from the county tax rolls as a result of the Navajo-Hopi land dispute settlement act of 1996 (25 United States Code section 640(d)-NOTE). D. Monies in the fund are exempt from the provisions of section 35-190 relating to lapsing of appropriations.