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HB2303 - 572R - I Ver
REFERENCE TITLE:
state treasurer; conflicts of interest
State of Arizona
House of Representatives
Fifty-seventh Legislature
Second Regular Session
2026
HB 2303
Introduced by
Representative
Livingston
AN
ACT
Amending section 41-172, Arizona Revised
Statutes; relating to the state treasurer.
(TEXT OF BILL BEGINS ON NEXT PAGE)
Be it enacted by the Legislature of the State of Arizona:
Section 1. Section 41-172, Arizona Revised
Statutes, is amended to read:
START_STATUTE
41-172.
Powers and duties; administering oaths; appointment of deputy
state treasurer; conflicts of interest; definitions
A. The state treasurer shall:
1. Authenticate
writings and documents certified by the state treasurer with the seal of the
state treasurer's office.
2. Receive
and keep in secure custody all monies that belong to this state and that are
not required to be received and kept by some other person.
3. File and keep the documentation delivered to the
treasurer when monies are deposited into the treasury.
4. Deliver to each person depositing money into the
treasury a confirmation showing the date, amount and depositing agency and
shall provide a unique identifying number for each confirmation.
5. Pay warrants drawn by the department of
administration in the order in which they are presented.
6. Keep an account of all monies received and
disbursed, and keep separate accounts of the different funds and appropriations
of monie
s
.
7. Give information in writing as to the condition
of the state treasury, or on any subject relating to the duties of the
treasurer, at the request of a member of the legislature.
8. Deliver to the governor and the department of
administration, monthly, an accurate statement of receipts and expenditures of
public monies for the preceding month, containing a complete exhibit of all the
public monies received and paid from the state treasury, showing, under
separate heads, on what accounts and from what sources received, and for what
particular object or service the monies have been paid. The
treasurer shall deliver to the governor a similar statement on or before
November 1 each year for the preceding fiscal year. The statement
shall also include an estimate of the invested balance, including the
state
general fund share of that balance as of June 30 of the
preceding fiscal year.� The statements are public records available for
inspection at the office of the state treasurer.
9. On or before February 1 of each year, in
coordination with the director of the department of administration, submit to
the joint legislative budget committee a report explaining any differences
between the department of administration's estimate of the previous fiscal
year's state general fund ending balance submitted pursuant to section 35-131
and the state treasurer's estimate of the invested balance, including the state
general fund share of that balance as of June 30 of the previous fiscal year
submitted pursuant to paragraph 8 of this subsection.
10. Exercise those specific powers of the surveyor-general
as a member of the selection board established under section 37-202.
11. Administer AZ529, Arizona's education savings
plan established by title 15, chapter 14, article 7.
12.� Promote and raise awareness of financial literacy to
residents of this state.
B. The state treasurer may administer all oaths
prescribed by law in matters touching the duties of the office of the state
treasurer, subject to chapter 4, article 4 of this title, may appoint a deputy
state treasurer, may qualify and select investment managers or advisors
pursuant to section 35-318 and shall perform other duties required by
other laws of this state.
C. Employees of the state treasurer's office are
subject to chapter 4, article 4 of this title.� For prospective or current
employees of the state treasurer's office, the state treasurer may:
1. Require the submission of a full set of
fingerprints for the purpose of obtaining a state and federal criminal records
check pursuant to section 41-1750 and Public Law 92-544.� The
department of public safety may exchange this fingerprint data with the federal
bureau of investigation.
2. Conduct a periodic review of credit standing.
D. The state treasurer shall only
invest in safe investments that prioritize safety and principal preservation
before high returns, liquidity and yield.
E. The state TREASURER may not do any
of the following:
1. use any insider information that
is obtained while performing official duties to KNOWINGLY benefit another party
or for any personal gain or for the personal gain of any family member of the
state treasurer. The interests of the state treasurer's office shall take
precedence over any personal interests of the state treasurer.
2. Invest in speculative investments.
F. For the purposes of this section:
1. "insider information"
includes any investment decisions, any information regarding any internal and
external investment programs or any advantageous investment opportunities that
are not available to the public, and any other negotiations, proposed
transactions or business information.
2. "Speculative
investments" means high-risk financial investments on assets whose value
is expected to increase significantly in the short term and are often based on
future potential rather than current income-generating ability.
END_STATUTE