Arizona § 15-1663 - Expenditure of land funds; eminent scholars matching grant fund
Full text of Arizona Arizona Revised Statutes § 15-1663 — Expenditure of land funds; eminent scholars matching grant fund, with citation guidance and answers to common questions.
§ 15-1663. Expenditure of land funds; eminent scholars matching grant fund
A. Except as provided in subsection B of this section, the Arizona board of regents may expend, as it deems expedient and as is not inconsistent with the provisions of any appropriation, the income of the land funds established pursuant to the enabling act in accordance with the purposes specified in the enabling act for each land fund specified in section 15-1662.
B. Beginning with the 1998-1999 fiscal year, the universities land fund shall be known as the eminent scholars matching grant fund and shall consist of the annual income from the universities land fund. The eminent scholars matching grant fund shall be used to provide to the universities matching monies for the interest earned on nonpublic endowment monies donated to attract and retain eminent faculty. Appropriations to the Arizona board of regents for the eminent scholars matching grant fund shall commence in the 1998-1999 fiscal year. The eminent scholars matching grant fund shall be allocated as follows:
1. Monies in the eminent scholars matching grant fund shall be used to supplement and not supplant any other sources of monies for the universities. Monies shall be allocated to each university on a dollar-for-dollar match basis. The amount allocated shall be equal to the amount of interest earned in the previous calendar year by each university on the nonpublic endowment monies donated from and after December 31, 1997 which are designated by the universities as being solely for the purpose of attracting and retaining eminent faculty.
2. If the monies appropriated by the legislature for the eminent scholars matching grant fund are greater than the amount of interest earned on the nonpublic endowment monies designated by the universities for expenditure as provided in this subsection, the board may allocate the excess monies as provided in subsection A of this section.
3. If the monies appropriated by the legislature for the eminent scholars matching grant fund are less than the amount of interest earned on the nonpublic endowment monies designated by the universities for expenditure as provided in this subsection, the board shall allocate the monies to each university in a manner deemed appropriate.
Source: official Arizona text · Last verified 2026-08-27
Frequently Asked Questions About Arizona § 15-1663
What does Arizona Revised Statutes § 15-1663 cover?
Section 15-1663 ("Expenditure of land funds; eminent scholars matching grant fund") is part of the Arizona Revised Statutes, the codified statutory law of Arizona. It sets out the legal rule or procedure described in the text above. Statutes are amended regularly, so always verify against the official source.
How do I cite Arizona § 15-1663?
A common citation format is "Arizona Revised Statutes § 15-1663" (Arizona). Legal writing may require the code abbreviation, section number, and year or edition. Match the style required by your court, professor, or publisher.
Is this the official text of Arizona law?
No. This page is for research and education and may not include the most recent amendments. For official current law, check the Arizona official source linked on this page or consult a licensed Arizona attorney.
How does Arizona § 15-1663 apply to my situation?
Statutes are interpreted in context, and application depends on your specific facts. Only a licensed attorney in Arizona can advise on how this section applies to you. Contact your state or local bar association for a referral.
Sources & Verification
Not legal advice. Verify against the official source and consult a licensed attorney in Arizona.