Sec 43-409. Job creation withholdings clearing account

Latest version.

A. The job creation withholdings clearing account is established consisting of the sum of twenty-six million five hundred thousand dollars of withholding tax revenues in fiscal year 2015-2016 and twenty-one million five hundred thousand dollars for each fiscal year after 2015-2016.

B. On the twentieth day of each month the state treasurer shall credit the following amounts from the clearing account:

1. To the Arizona commerce authority fund established by section 41-1506, one-twelfth of the annual sum of ten million dollars in each fiscal year.

2. To the Arizona competes fund established by section 41-1545.01, one-twelfth of the annual sum of sixteen million five hundred thousand dollars in fiscal year 2015-2016 and eleven million five hundred thousand dollars for each fiscal year after 2015-2016.

                    
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