Ariz. Rev. Stat. » Title 40
Arizona Revised Statutes

Ariz. Rev. Stat. § 40-408 (2026)

Disposition of assessment proceeds; utility regulation revolving fund; exemption from lapsing

✓ text as last checked Oct. 2026 (this copy records no edition or section history)
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A. The utility regulation revolving fund is established.

B. All monies received by the commission under the provisions of section 40-401 shall be deposited, pursuant to sections 35-146 and 35-147, in the utility regulation revolving fund.

C. Subject to legislative appropriation, the commission shall use the monies in the utility regulation revolving fund for attorneys and other legal staff employed pursuant to section 40-106, and all expenses of the utilities division, including compensation of auditors, economists and other staff, including staff with expertise in the area of corporate accounting, finance and management efficiency of all types of public service corporations, and a part of the expenses for the hearing and administration divisions, including expenses associated with the commissioners.

D. Monies in the utility regulation revolving fund do not revert to the state general fund pursuant to section 35-190.

E. Monies not appropriated or expended from the utility regulation revolving fund at the end of the fiscal year shall be used to calculate the annual assessment prescribed in section 40-401.

F. The utilities division shall not use any monies from the utility regulation revolving fund unless such monies are appropriated by the legislature.

Notes of Decisions
Cited in 1 case, 1980–1980 · leading case: Morris v. Fleming, 625 P.2d 334 (Ariz. Ct. App. 1980).
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Morris v. Fleming, 625 P.2d 334 (Ariz. Ct. App. 1980). · cites it 7× “Sums collected pursuant to this assessment are required to be deposited in the State’s general fund under A.R.S. § 40-408 and thus are available to meet the general obligations of the State.”
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