The proposed bill, if enacted, would establish a Historical Society Chapter Building Enhancement Fund for each chapter of the Arizona Historical Society (AHS). This fund would consist of donations and contributions made to the chapters, which would be continuously appropriated. Each chapter would be required to deposit all received donations and proceeds from building operations into their respective fund. The bill also allows chapters to seek contributions and spend funds for acquiring, enhancing, and maintaining buildings and facilities, subject to AHS approval.

Additionally, the bill mandates that each chapter prepare an annual report detailing the funds received and spent, along with projections for future expenditures. It also requires the State Treasurer to manage the investment of these funds, with any earnings credited back to the fund. Furthermore, the bill clarifies that the funds are exempt from lapsing provisions, ensuring that the appropriated money remains available for the chapters' use.

Statutes affected:
Introduced Version: 41-821, 41-827, 38-211
House Engrossed Version: 41-821, 41-827, 38-211