28-2432. Arizona professional basketball club
special plates; fund
A. If, by December 31, 2008, a charitable organization affiliated with an Arizona
professional basketball club donates thirty-two thousand dollars to the veterans'
donations fund established by section 41-608 for the purpose of paying the implementation
costs of the gold star family special plates established by section 28-2431 and the
thirty-two thousand dollars is paid to the department for the implementation of this
section, the department shall issue Arizona professional basketball club special plates.
The entity that provides the thirty-two thousand dollars for the implementation of the
Arizona professional basketball club special plates shall design the Arizona professional
basketball club special plates. The design and color of the Arizona professional
basketball club special plates are subject to the approval of the department. The
director may allow a request for Arizona professional basketball club special plates to
be combined with a request for personalized special plates. If the director allows such a
combination, the request shall be in a form prescribed by the director and is subject to
the fees for the personalized special plates in addition to the fees required for Arizona
professional basketball club special plates.
B. Of the twenty-five dollar fee required by section 28-2402 for the original
special plates and for renewal of special plates, eight dollars is a special plate
administration fee and seventeen dollars is an annual donation.
C. The department shall deposit, pursuant to sections 35-146 and 35-147, all
special plate administration fees in the state highway fund established by section
28-6991 and all donations collected pursuant to this section in the Arizona professional
basketball club special plate fund established by subsection D of this section.
D. The Arizona professional basketball club special plate fund is established
consisting of monies received pursuant to this section. The director shall administer the
fund. The first thirty-two thousand dollars received shall be reimbursed to the entity
that paid the implementation fee to the department pursuant to subsection A of this
section. Not more than ten per cent of monies deposited in the fund annually shall be
used for the cost of administering the fund. Monies in the fund are continuously
appropriated. The director shall allocate monies from the fund through a private Arizona
professional basketball organization's foundation that is qualified under section
501(c)(3) of the United States internal revenue code for federal income tax
purposes. The director shall forward all monies deposited in the Arizona professional
basketball club special plate fund, excluding administrative fees, to the foundation on
an annual basis.
E. 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.
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