Arizona Laws 40-408. Disposition of assessment proceeds; utility regulation revolving fund; exemption from lapsing
A. The utility regulation revolving fund is established.
Terms Used In Arizona Laws 40-408
- 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
- Commission: means the corporation commission. See Arizona Laws 40-201
- 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.
- including: means not limited to and is not a term of exclusion. See Arizona Laws 1-215
B. All monies received by the commission under the provisions of section 40-401 shall be deposited, pursuant to sections 35-146 and 35-147, in the utility regulation revolving fund.
C. Subject to legislative appropriation, the commission shall use the monies in the utility regulation revolving fund for attorneys and other legal staff employed pursuant to section 40-106, and all expenses of the utilities division, including compensation of auditors, economists and other staff, including staff with expertise in the area of corporate accounting, finance and management efficiency of all types of public service corporations, and a part of the expenses for the hearing and administration divisions, including expenses associated with the commissioners.
D. Monies in the utility regulation revolving fund do not revert to the state general fund pursuant to section 35-190.
E. Monies not appropriated or expended from the utility regulation revolving fund at the end of the fiscal year shall be used to calculate the annual assessment prescribed in section 40-401.
F. The utilities division shall not use any monies from the utility regulation revolving fund unless such monies are appropriated by the legislature.