Arizona Laws 15-1468. Equalization aid for community college districts
A. Subject to legislative appropriation, any district that is organized pursuant to section 15-1402 and that has less than the amount of primary assessed valuation prescribed in section 15-1402 shall be paid by this state an amount equal to the following:
Terms Used In Arizona Laws 15-1468
- Appropriation: The provision of funds, through an annual appropriations act or a permanent law, for federal agencies to make payments out of the Treasury for specified purposes. The formal federal spending process consists of two sequential steps: authorization
- Community college: means an educational institution that is operated by a district board and that provides a program of not more than four years' training in the arts, sciences and humanities beyond the twelfth grade of the public or private high school course of study or vocational education, including terminal courses of a technical and vocational nature and basic adult education courses. See Arizona Laws 15-1401
- District: means a community college district that is established pursuant to sections 15-1402 and 15-1403 or Section 15-1402. See Arizona Laws 15-1401
- Property: includes both real and personal property. See Arizona Laws 1-215
- Subject: means a division or field of organized knowledge, such as English or mathematics, or a selection from an organized body of knowledge for a course or teaching unit, such as the English novel or elementary algebra. See Arizona Laws 15-101
1. The difference between the prior year’s actual primary assessed valuation of the district and the amount of primary assessed valuation prescribed in section 15-1402.
2. The actual prior year’s primary property tax rate for the district.
3. The difference determined in paragraph 1 multiplied by the lesser of the tax rate determined in paragraph 2 or one dollar thirty-seven cents.
B. The equalization aid provided for in subsection A of this section shall be used for the same purposes specified in section 15-1462 and shall be apportioned to any qualifying district pursuant to section 15-1467.
C. This section does not apply to community college districts organized pursuant to Section 15-1402.01 or to community college tuition financing districts as prescribed in section 15-1409.