42-17401. Elderly assistance fund; primary
school district tax reduction; definition
A. An elderly assistance fund shall be established by the board of
supervisors in a county with a population of more than two million persons to be
administered by the county treasurer. The fund shall be used to reduce the primary school
district taxes pursuant to subsection B of this section.
B. On June 30 of each year, the county treasurer shall determine the total amount
of monies in the elderly assistance fund and the total number of qualified individuals
who live in the county. The county treasurer shall use the monies in the fund to
proportionately reduce the primary school district taxes that are levied against the
property of all qualified individuals in the county for the following tax year.
C. The county treasurer shall invest monies in the fund. Interest earned on fund
monies shall be deposited in the taxpayer's information fund established by section
11-495.
D. For the purposes of this section, "qualified individual" means an individual who
lives in an organized school district and who is approved for the property valuation
protection option pursuant to article IX, section 18, subsection (7), Constitution of
Arizona.
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