41-173. Special olympics tax refund fund

A. The special olympics tax refund fund is established consisting of contributions to the special olympics Arizona as a corporation from income tax refunds collected pursuant to section 43-614, other unrestricted private gifts and grants and investment earnings. No public monies may be appropriated to or designated for this fund.

B. The fund shall be administered by the department of revenue. On notice from the director, the state treasurer shall invest and divest monies in the fund as provided by section 35-313, and monies earned from investment shall be credited to the fund.

C. Before December 31 each year the department of revenue shall determine the cost of administering the special olympics income tax refund checkoff under section 43-614 and this section and shall deduct this amount from monies otherwise distributable to the special olympics Arizona as a corporation. The deducted monies shall be deposited, pursuant to sections 35-146 and 35-147, in the state general fund. If the amount to be deducted for administrative cost exceeds the amount distributable, the excess deduction shall be carried forward as a liability to the special olympics Arizona as a corporation until paid. On May 15 and October 15 each year the department of revenue shall distribute all monies in the fund not necessary for administrative costs to the department of economic security to be used only to contract with the special olympics Arizona as a corporation for delivery of those services essential to programs of the special olympics Arizona as a corporation or its successor for the citizens of Arizona with intellectual disabilities, including coordination and development of such programs within this state.

D. Monies contributed or accruing to the fund are not state revenues for purposes of any constitutional limitation or prohibition and are exempt from lapsing under section 35-190.