42-1116 - Arizona Statutes

42-1116. Disposition of tax revenues A. The department shall promptly deposit, pursuant to sections 35-146 and 35-147, all monies it collects from the taxes administered pursuant to this article except the telecommunication services excise tax, separately accounting for each type of tax and each tax classification within each type of tax. At the same time the department of revenue shall also furnish copies of the transmittal schedules to the director of the department of administration. B. Except as provided by subsection C of this section, the department shall deposit all monies and remittances received under this section to the credit of the following specific funds and accounts: 1. Amounts sufficient to meet the requirements for tax refunds to the tax refund account established in section 42-1117. 2. Amounts sufficient to meet the requirements of urban revenue sharing to the urban revenue sharing fund established in section 43-206. 3. Amounts collected pursuant to chapter 5, articles 1 and 5 of this title and section 42-5352, subsection A to the transaction privilege and severance tax clearing account established by section 42-5029. 4. Through June 30, 2015 amounts sufficient to meet the requirements of section 42-3104 to the corrections fund. 5. Amounts sufficient to meet the requirements of section 49-282, subsection B relating to the water quality assurance revolving fund. 6. All remaining monies to the state general fund. C. From the monies and remittances received under this section, each month beginning July, 2001 the state treasurer shall transmit to the tourism and sports authority, established by title 5, chapter 8, for deposit in its facility revenue clearing account established by section 5-834 one-twelfth of the amount reported by the department pursuant to section 43-209.