The bill establishes the Tribal Community College Operations Fund, which will consist of legislative appropriations, gifts, grants, and other lawful contributions. The Arizona Board of Regents (ABOR) is tasked with administering this fund and distributing its resources to tribal community colleges in Arizona. The bill specifies that the funds are exempt from lapsing provisions and can be used for operational expenses, including the establishment of instructional programs. Additionally, the State Treasurer is required to manage the investment of these funds, with any earnings credited back to the fund.

The bill appropriates a total of $39,999,999 from the state General Fund, allocating $13,333,333 for each of the fiscal years 2025, 2026, and 2027 to the newly established fund. This is a new financial commitment aimed at supporting tribal community colleges, which is not explicitly outlined in the current law.

Statutes affected:
Introduced Version: 15-1650.07