41-983.01. Arizona arts trust fund
A. There is established the Arizona arts trust fund. The trust fund shall be administered by the Arizona commission on the arts and shall consist of revenues derived from filing fees collected pursuant to section 10-122. The commission shall deposit, pursuant to sections 35-146 and 35-147, such revenues into the trust fund at least quarterly.
B. On notice from the commission, 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 trust fund. Monies in the fund shall not revert to the state general fund.
C. Expenditures from the trust fund for grants under the Arizona arts program shall be authorized by a majority vote of the commission. All other expenditures may be authorized by the chairman of the commission. Expenditures shall be made upon warrants drawn by the department of administration.
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