A. On or before the second Monday in July of each year, the department shall transfer from amounts credited to the district the amounts that have been collected by the district pursuant to section 48-3715, subsection B, during the fiscal year immediately preceding the year in which the transfer is made.
B. The amounts transferred pursuant to subsection A of this section shall be deposited in the Arizona water protection fund established pursuant to title 45, chapter 12, article 2.