A.The department shall issue Arizona professional basketball clubs special plates in two different designs as follows:
1.On or before December 31, 2024, the entity that provides the $32,000 for the implementation of the Arizona professional basketball clubs special plates shall design the Arizona professional men's basketball club special plates. The design and color of the Arizona professional men's basketball club special plates are subject to the approval of the department.
2.If, by December 31, 2024, a person provides an additional $32,000 to the department for the Arizona professional basketball clubs special plates, the person that provides the $32,000 shall design the Arizona professional women's basketball club special plates. The design and color of the Arizona professional
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A. The department shall issue Arizona professional basketball clubs special plates in two different designs as follows:
1. On or before December 31, 2024, the entity that provides the $32,000 for the implementation of the Arizona professional basketball clubs special plates shall design the Arizona professional men's basketball club special plates. The design and color of the Arizona professional men's basketball club special plates are subject to the approval of the department.
2. If, by December 31, 2024, a person provides an additional $32,000 to the department for the Arizona professional basketball clubs special plates, the person that provides the $32,000 shall design the Arizona professional women's basketball club special plates. The design and color of the Arizona professional women's basketball club special plates are subject to the approval of the department.
B. All of the following apply to the Arizona professional basketball clubs special plates issued pursuant to subsection A of this section:
1. The director may allow a request for Arizona professional basketball clubs special plates to be combined with a request for personalized special plates. If the director allows such a combination, the request shall be in a form prescribed by the director and is subject to the fees for the personalized special plates in addition to the fees required for Arizona professional basketball clubs special plates.
2. Of the $25 fee required by section 28-2402 for the original special plates and for renewal of special plates, $8 is a special plate administration fee and $17 is an annual donation.
3. The department shall deposit, pursuant to sections 35-146 and 35-147, all special plate administration fees in the state highway fund established by section 28-6991 and all donations collected pursuant to this section in the Arizona professional basketball clubs special plate fund established by subsection C of this section.
C. The Arizona professional basketball clubs special plate fund is established consisting of monies received pursuant to this section. The director shall administer the fund. The first $32,000 received pursuant to subsection A, paragraph 1 of this section shall be reimbursed to the entity that paid the implementation fee to the department and the first $32,000 received pursuant to subsection A, paragraph 2 of this section shall be reimbursed to the person that paid the implementation fee to the department. Not more than ten percent of monies deposited in the fund annually shall be used for the cost of administering the fund. Monies in the fund are continuously appropriated. The director shall allocate monies from the fund through a private Arizona professional basketball organization's foundation that is qualified under section 501(c)(3) of the United States internal revenue code for federal income tax purposes. The director shall forward all monies deposited in the Arizona professional basketball clubs special plate fund, excluding administrative fees, to the foundation on an annual basis.
D. On notice from the director, the state treasurer shall invest and divest monies in the fund as provided by section 35-313, and monies earned from investment shall be credited to the fund.