{"data":{"id":"us-az/a.r.s.-35-1101","jurisdiction":"us-az","citation":"A.R.S. § 35-1101","heading":"Legislative consideration; funds; trust status; report; requirements","body":"A. A statutory fund established prior to the effective date of this section may not be reclassified as a fund held in trust unless the fund under consideration meets the following factors:\n\n1. Serves at least one of the following purposes:\n\n(a) Protects public health or safety.\n\n(b) Provides consumer protection by ensuring quality standards of an industry.\n\n(c) Provides research grants for projects designed to further the purposes of the program.\n\n2. Is for a program that meets both of the following requirements:\n\n(a) Is funded primarily by industry fees assessed on a specified group of people and designated for a particular purpose.\n\n(b) Has independent industry council review of the program budget and fees.\n\nB. Any legislative standing committee considering legislation to reclassify a statutory fund to a fund held in trust shall affirm that the fund seeking reclassification meets the factors outlined in subsection A.","path":["Title 35 Public Finances"],"source_url":"https://www.azleg.gov/ars/35/01101.htm","current_through":"2026-09-04","vintage":"2026-08-09","retrieved_at":"2026-09-04T00:49:56Z","sha256":"73684af2e569e643e7c3f82064889f72cc663babbcd7d6eda49be64757d7afb9","source_id":"us-az","stale":true,"prev":"us-az/a.r.s.-35-103","next":"us-az/a.r.s.-35-111"},"notice":"GroundRules: Original legal text. Not legal advice."}