If enacted, this bill would establish a Historical Society Chapter Building Enhancement Fund for each chapter of the Arizona Historical Society (AHS), which would consist of donations and contributions made to the chapters. The bill specifies that these funds are continuously appropriated and mandates that chapters deposit all received donations and proceeds from building operations into their respective funds. Additionally, chapters would be authorized to seek contributions and spend funds for acquiring, enhancing, and maintaining buildings and facilities, subject to AHS approval.

The bill also introduces requirements for chapters to prepare annual reports detailing their financial activities, including sources of funds and expenditures from the previous fiscal year, along with projections for future use. Furthermore, it mandates the State Treasurer to manage the investment of these funds, ensuring that any earnings are credited back to the fund. Importantly, the bill clarifies that the funds are exempt from lapsing provisions, thereby securing their availability for ongoing use.

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