28-2451. Arizona motorsports commemorative special plates; fund
A. If, by December 31, 2014, a person pays thirty-two thousand dollars to the department for the implementation of this section, the department shall issue Arizona motorsports commemorative special plates. The person that provides the thirty-two thousand dollars shall design the Arizona motorsports commemorative special plates. The design and color of the Arizona motorsports commemorative special plates are subject to the approval of the department. The director may allow a request for Arizona motorsports commemorative 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 motorsports commemorative special plates.
B. Of the twenty-five dollar fee required by section 28-2402 for original special plates and for renewal of special plates, eight dollars is a special plate administration fee and seventeen dollars is an annual donation.
C. 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 motorsports commemorative special plate fund established by this section.
D. The Arizona motorsports commemorative special plate fund is established consisting of monies received pursuant to this section. The director shall administer the fund. The first thirty-two thousand dollars in the fund shall be reimbursed to the person that provides the thirty-two thousand dollars pursuant to subsection A of this section. Not more than ten per cent of monies deposited in the fund annually shall be used for the cost of administering the fund. Monies in the fund are continuously appropriated.
E. The director shall annually allocate monies from the Arizona motorsports commemorative special plate fund, excluding administrative fees, to a foundation that is a national leader in providing resources and charitable support for children through education, medical treatment, dream experiences and volunteerism. The foundation must satisfy all of the following requirements:
1. Have a scholarship program that aids in providing summer camp opportunities and dream experiences at motorsports events for terminally ill and special needs children.
2. Have a mission that requires investment in creating opportunity for school-aged students and helping the students to engage in science and engineering using motorsports as the basis of the educational program.
3. Be a charitable organization that is qualified under section 501(c)(3) of the United States internal revenue code for federal income tax purposes.
4. Be named after, or have a donor advised fund named after, a special event location that promotes sanctioned motorsports and family events within this state.
F. On notice from the director, the state treasurer shall invest and divest monies in the fund as provided in section 35-313, and monies earned from investment shall be credited to the fund.