The proposed bill, if enacted, would introduce a new section, 41-827, to the Arizona Revised Statutes, establishing 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. The bill mandates that chapters deposit all received donations and proceeds from building operations into their respective funds and allows them to use these funds for acquiring, enhancing, and maintaining buildings and facilities, subject to AHS approval.

Additionally, the bill requires each chapter to prepare an annual report detailing the funds received and spent, along with projections for future expenditures. It also stipulates that the State Treasurer will 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. The language of the bill replaces certain terms and adds new provisions to enhance the operational framework of the AHS chapters.

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