Arizona § 40-408 - Disposition of assessment proceeds; utility regulation revolving fund; exemption from lapsing
Full text of Arizona Arizona Revised Statutes § 40-408 — Disposition of assessment proceeds; utility regulation revolving fund; exemption from lapsing, with citation guidance and answers to common questions.
§ 40-408. Disposition of assessment proceeds; utility regulation revolving fund; exemption from lapsing
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.
Source: official Arizona text · Last verified 2026-08-27
Frequently Asked Questions About Arizona § 40-408
What does Arizona Revised Statutes § 40-408 cover?
Section 40-408 ("Disposition of assessment proceeds; utility regulation revolving fund; exemption from lapsing") 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 § 40-408?
A common citation format is "Arizona Revised Statutes § 40-408" (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 § 40-408 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.