Form N-Q

UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, DC 20549

FORM N-Q


QUARTERLY SCHEDULE OF PORTFOLIO HOLDINGS OF REGISTERED MANAGEMENT INVESTMENT COMPANY

Investment Company Act file number         811-7278         

        Nuveen Arizona Premium Income Municipal Fund, Inc.         
(Exact name of registrant as specified in charter)


        333 West Wacker Drive, Chicago, Illinois 60606         
(Address of principal executive offices) (Zip code)


Jessica R. Droeger—Vice President and Secretary
        333 West Wacker Drive, Chicago, Illinois 60606         
(Name and address of agent for service)

Registrant's telephone number, including area code:         312-917-7700        

Date of fiscal year end:            7/31          

Date of reporting period:          10/31/05         

Form N-Q is to be used by management investment companies, other than small business investment companies registered on Form N-5 (§§ 239.24 and 274.5 of this chapter), to file reports with the Commission, not later than 60 days after the close of the first and third fiscal quarters, pursuant to rule 30b1-5 under the Investment Company Act of 1940 (17 CFR 270.30b1-5). The Commission may use the information provided on Form N-Q in its regulatory, disclosure review, inspection, and policymaking roles.

A registrant is required to disclose the information specified by Form N-Q, and the Commission will make this information public. A registrant is not required to respond to the collection of information contained in Form N-Q unless the Form displays a currently valid Office of Management and Budget (“OMB”) control number. Please direct comments concerning the accuracy of the information collection burden estimate and any suggestions for reducing the burden to the Secretary, Securities and Exchange Commission, 450 Fifth Street, NW, Washington, DC 20549-0609. The OMB has reviewed this collection of information under the clearance requirements of 44 U.S.C. § 3507.

Item 1. Schedule of Investments

  Portfolio of Investments (Unaudited)
Nuveen Arizona Premium Income Municipal Fund, Inc. (NAZ)
October 31, 2005

Principal    Optional Call    Market 
Amount (000)  Description(1)   Provisions*  Ratings**  Value 
  Consumer Staples - 1.5% (1.0% of Total Investments)       
$ 915  Puerto Rico, The Children's Trust Fund, Tobacco Settlement Asset-Backed Refunding Bonds, Series  5/12 at 100.00  BBB  $ 942,917 
  2002, 5.375%, 5/15/33       
  Education and Civic Organizations - 15.9% (11.0% of Total Investments)       
1,000  Arizona State University, Certificates of Participation, Series 2002, 5.375%, 7/01/19 - MBIA  7/12 at 100.00  AAA  1,081,840 
  Insured       
  Arizona State University, System Revenue Bonds, Series 2005:       
2,455  5.000%, 7/01/20 - AMBAC Insured  7/15 at 100.00  AAA  2,590,614 
1,395  5.000%, 7/01/26 - AMBAC Insured  7/15 at 100.00  AAA  1,455,222 
1,000  Arizona State University, System Revenue Bonds, Series 2002, 5.000%, 7/01/25 - FGIC Insured  7/12 at 100.00  AAA  1,035,450 
1,250  Glendale Industrial Development Authority, Arizona, Revenue Bonds, Midwestern University, Series  5/11 at 101.00  A-  1,323,325 
  2001A, 5.875%, 5/15/31       
1,050  Northern Arizona University, System Revenue Bonds, Series 2002, 5.000%, 6/01/34 - FGIC Insured  6/12 at 100.00  AAA  1,073,877 
1,500  Tempe Industrial Development Authority, Arizona, Lease Revenue Bonds, Arizona State University  7/13 at 100.00  AAA  1,541,715 
  Foundation Project, Series 2003, 5.000%, 7/01/34 - AMBAC Insured       
  Healthcare - 14.9% (10.3% of Total Investments)       
2,000  Arizona Health Facilities Authority, Hospital System Revenue Bonds, Phoenix Children's Hospital,  11/09 at 100.00  Baa3  2,032,300 
  Series 1999A, 6.125%, 11/15/22       
1,000  Arizona Health Facilities Authority, Hospital System Revenue Bonds, John C. Lincoln Health Network,  12/10 at 102.00  BBB  1,115,060 
  Series 2000, 7.000%, 12/01/25       
800  Arizona Health Facilities Authority, Hospital Revenue Bonds, Catholic Healthcare West, Series  7/10 at 101.00  A-  894,464 
  1999A, 6.625%, 7/01/20       
2,150  Maricopa County Industrial Development Authority, Arizona, Health Facility Revenue Bonds, Catholic  7/14 at 100.00  A-  2,240,537 
  Healthcare West, Series 2004A, 5.375%, 7/01/23       
515  Puerto Rico Industrial, Tourist, Educational, Medical and Environmental Control Facilities  11/10 at 101.00  AA  576,630 
  Financing Authority, Hospital Revenue Bonds, Hospital de la Concepcion, Series 2000A, 6.375%,       
  11/15/15       
1,500  Scottsdale Industrial Development Authority, Arizona, Hospital Revenue Bonds, Scottsdale  12/11 at 101.00  A3  1,590,855 
  Healthcare, Series 2001, 5.800%, 12/01/31       
1,055  Winslow Industrial Development Authority, Arizona, Hospital Revenue Bonds, Winslow Memorial  6/08 at 101.00  N/R  1,000,003 
  Hospital, Series 1998, 5.500%, 6/01/22       
  Housing/Multifamily - 6.9% (4.8% of Total Investments)       
400  Phoenix Industrial Development Authority, Arizona, GNMA Collateralized Multifamily Housing Revenue  6/11 at 102.00  Aaa  418,056 
  Bonds, Campaigne Place on Jackson, Series 2001, 5.700%, 6/20/31 (Alternative Minimum Tax)       
530  Phoenix Industrial Development Authority, Arizona, GNMA Collateralized Multifamily Housing Revenue  4/15 at 100.00  Aaa  528,643 
  Bonds, Park Lee Apartments, Series 2004A, 5.050%, 10/20/44 (Alternative Minimum Tax)       
3,215  Tucson Industrial Development Authority, Arizona, Senior Living Facilities Revenue Bonds, Christian  7/10 at 101.00  AA  3,428,669 
  Care Project, Series 2000A, 5.625%, 7/01/20 - RAAI Insured       
  Industrials - 2.1% (1.5% of Total Investments)      
1,345  Yavapai County Industrial Development Authority, Arizona, Solid Waste Disposal Revenue Bonds, Waste No Opt. Call  BBB  1,360,589 
  Management Inc. Project, Series 2003B, 4.450%, 3/01/28 (Alternative Minimum Tax) (Mandatory put      
  3/01/08)      
  Long-Term Care - 0.6% (0.4% of Total Investments)      
345  Mohave County Industrial Development Authority, Arizona, GNMA Collateralized Healthcare Revenue 5/06 at 103.00  AAA  358,224 
  Refunding Bonds, Chris Ridge and Silver Village Projects, Series 1996, 6.375%, 11/01/31      
  Tax Obligation/General - 7.0% (4.8% of Total Investments)      
1,525  Maricopa County Union High School District 210, Phoenix, Arizona, General Obligation Bonds, Series 7/14 at 100.00  AAA  1,604,285 
  2004A, 5.000%, 7/01/21 - FSA Insured      
465  Maricopa County Union High School District 210, Phoenix, Arizona, General Obligation Bonds, Series 7/15 at 100.00  AAA  488,431 
  2005B, 5.000%, 7/01/23 - MBIA Insured      
500  Puerto Rico, General Obligation and Public Improvement Bonds, Series 2002A, 5.500%, 7/01/19 - FGIC No Opt. Call  AAA  566,200 
  Insured      
330  Puerto Rico, General Obligation and Public Improvement Bonds, Series 2001A, 5.375%, 7/01/28 7/11 at 100.00  BBB  349,302 
1,340  Tucson, Arizona, General Obligation Bonds, Series 2005, 5.000%, 7/01/20 - FGIC Insured No Opt. Call  AAA  1,419,462 
  Tax Obligation/Limited - 37.6% (25.9% of Total Investments)      
2,000  Arizona School Facilities Board, School Improvement Revenue Bonds, Series 2004A, 5.750%, 7/01/18 - 7/14 at 100.00  AAA  2,240,880 
  AMBAC Insured      
2,000  Arizona State Transportation Board, Subordinate Highway Revenue Bonds, Series 2004B, 5.000%, 7/14 at 100.00  AA  2,098,060 
  7/01/22      
  Arizona Tourism and Sports Authority, Tax Revenue Bonds, Multipurpose Stadium Facility Project,      
  Series 2003A:      
3,000  5.375%, 7/01/20 - MBIA Insured 7/13 at 100.00  Aaa  3,257,490 
1,000  5.375%, 7/01/21 - MBIA Insured 7/13 at 100.00  Aaa  1,085,150 
  Bullhead City, Arizona, Special Assessment Bonds, Parkway District Improvements, Series 1993:      
815  6.100%, 1/01/08 1/06 at 100.00  Baa2  818,472 
875  6.100%, 1/01/09 1/06 at 100.00  Baa2  878,518 
508  Estrella Mountain Ranch Community Facilities District, Goodyear, Arizona, Special Assessment Lien 7/10 at 102.00  N/R  558,607 
  Bonds, Series 2001A, 7.875%, 7/01/25      
575  Marana Municipal Property Corporation, Arizona, Revenue Bonds, Series 2003, 5.000%, 7/01/28 - 7/13 at 100.00  AAA  592,118 
  AMBAC Insured      
3,400  Maricopa County Stadium District, Arizona, Revenue Refunding Bonds, Series 2002, 5.375%, 6/01/18 - 6/12 at 100.00  Aaa  3,683,458 
  AMBAC Insured      
2,000  Phoenix Civic Improvement Corporation, Arizona, Subordinate Lien Excise Tax Revenue Bonds, Series 7/13 at 100.00  AAA  2,091,820 
  2003A, 5.000%, 7/01/21 - MBIA Insured      
1,340  Phoenix Civic Improvement Corporation, Arizona, Subordinate Excise Tax Revenue Bonds, Civic Plaza 7/15 at 100.00  AAA  1,407,523 
  Expansion Project, Series 2005A, 5.000%, 7/01/22 - FGIC Insured      
1,200  Prescott Valley Municipal Property Corporation, Arizona, Municipal Facilities Revenue Bonds, Series 1/13 at 100.00  AAA  1,237,452 
  2003, 5.000%, 1/01/27 - FGIC Insured      
1,000  Puerto Rico Public Buildings Authority, Guaranteed Government Facilities Revenue Refunding Bonds, 7/12 at 100.00  BBB  1,027,470 
  Series 2002D, 5.125%, 7/01/24      
805  Scottsdale Preserve Authority, Arizona, Excise Tax Revenue Bonds, Series 2004, 5.000%, 7/01/16 - No Opt. Call  AAA  865,246 
  FGIC Insured      
1,350  Tempe, Arizona, Excise Tax Revenue Bonds, Series 2004, 5.250%, 7/01/20 - AMBAC Insured 7/14 at 100.00  AAA  1,454,544 
500  Tucson, Arizona, Certificates of Participation, Series 2000, 5.700%, 7/01/20 - MBIA Insured 7/08 at 100.00  AAA  526,835 
  U.S. Guaranteed *** - 25.2% (17.4% of Total Investments)      
1,985  Arizona School Facilities Board, School Improvement Revenue Bonds, Series 2003, 5.000%, 7/01/21 7/13 at 100.00  AAA  2,135,880 
  (Pre-refunded to 7/01/13)      
2,250  Maricopa County Industrial Development Authority, Arizona, Hospital Revenue Refunding Bonds, No Opt. Call  AAA  2,759,580 
  Samaritan Health Services, Series 1990A, 7.000%, 12/01/16 - MBIA Insured      
3,000  Mesa Industrial Development Authority, Arizona, Revenue Bonds, Discovery Health System, Series 1/10 at 101.00  AAA  3,279,900 
  1999A, 5.750%, 1/01/25 (Pre-refunded to 1/01/10) - MBIA Insured      
2,000  Phoenix Civic Improvement Corporation, Arizona, Junior Lien Wastewater System Revenue Bonds, Series 7/10 at 101.00  AAA  2,228,160 
  2000, 6.000%, 7/01/24 (Pre-refunded to 7/01/10) - FGIC Insured      
  Phoenix Industrial Development Authority, Arizona, Government Office Lease Revenue Bonds, Capitol      
  Mall LLC, Series 2000:      
1,000  5.375%, 9/15/22 (Pre-refunded to 9/15/10) - AMBAC Insured 9/10 at 100.00  AAA  1,080,390 
2,000  5.500%, 9/15/27 (Pre-refunded to 9/15/10) - AMBAC Insured 9/10 at 100.00  AAA  2,171,880 
1,000  Puerto Rico Highway and Transportation Authority, Highway Revenue Bonds, Series 2000B, 6.500%, 7/10 at 101.00  BBB+***  1,135,420 
  7/01/27 (Pre-refunded to 7/01/10)       
500  Surprise Municipal Property Corporation, Arizona, Excise Tax Revenue Bonds, Series 2000, 5.700%, 7/09 at 101.00  AAA  544,535 
  7/01/20 (Pre-refunded to 7/01/09) - FGIC Insured      
600  Tucson, Arizona, Junior Lien Street and Highway User Revenue Bonds, Series 2000E, 5.000%, 7/01/18 7/10 at 100.00  AAA  639,078 
  (Pre-refunded to 7/01/10) - FGIC Insured      
  Utilities - 10.6% (7.3% of Total Investments)      
1,000  Arizona Power Authority, Special Obligation Power Resource Revenue Refunding Crossover Bonds, No Opt. Call  AA  1,093,750 
  Hoover Project, Series 2001, 5.250%, 10/01/15      
1,000  Coconino County, Arizona, Pollution Control Revenue Bonds, Nevada Power Company Project, Series 10/06 at 102.00  B-  1,022,200 
  1996, 6.375%, 10/01/36 (Alternative Minimum Tax)      
905  Pima County Industrial Development Authority, Arizona, Lease Obligation Revenue Refunding Bonds, 1/06 at 101.00  AAA  926,141 
  Tucson Electric Power Company, Series 1988A, 7.250%, 7/15/10 - FSA Insured      
  Salt River Project Agricultural Improvement and Power District, Arizona, Electric System Revenue      
  Refunding Bonds, Series 2002A:      
2,000  5.125%, 1/01/27 1/12 at 101.00  AA  2,084,300 
1,000  5.000%, 1/01/31 1/12 at 101.00  AA  1,027,500 
530  Salt River Project Agricultural Improvement and Power District, Arizona, Electric System Revenue 1/13 at 100.00  AA  552,774 
  Bonds, Series 2002B, 5.000%, 1/01/22      
  Water and Sewer - 22.6% (15.6% of Total Investments)      
  Arizona Water Infrastructure Finance Authority, Water Quality Revenue Bonds, Series 2004A:      
1,825  5.000%, 10/01/19 10/14 at 100.00  AAA  1,934,683 
1,815  5.000%, 10/01/22 10/14 at 100.00  AAA  1,908,890 
1,005  Cottonwood, Arizona, Senior Lien Water System Revenue Bonds, Municipal Property Corporation, Series 7/14 at 100.00  AAA  1,041,039 
  2004, 5.000%, 7/01/24 - XLCA Insured      
3,500  Glendale, Arizona, Water and Sewer Revenue Bonds, Subordinate Lien, Series 2003, 5.000%, 7/01/28 - 7/13 at 100.00  AAA  3,613,330 
  AMBAC Insured      
600  Oro Valley Municipal Property Corporation, Arizona, Senior Lien Water Revenue Bonds, Series 2003, 7/13 at 100.00  AAA  625,122 
  5.000%, 7/01/23 - MBIA Insured      
875  Phoenix Civic Improvement Corporation, Arizona, Junior Lien Wastewater System Revenue Bonds, Series 7/14 at 100.00  AAA  912,756 
  2004, 5.000%, 7/01/24 - MBIA Insured      
1,250  Phoenix Civic Improvement Corporation, Arizona, Junior Lien Water System Revenue Refunding Bonds, No Opt. Call  AAA  1,417,338 
  Series 2001, 5.500%, 7/01/21 - FGIC Insured      
1,500  Phoenix Civic Improvement Corporation, Arizona, Junior Lien Water System Revenue Bonds, Series 7/12 at 100.00  AAA  1,551,855 
  2002, 5.000%, 7/01/26 - FGIC Insured      
1,325  Phoenix Civic Improvement Corporation, Arizona, Junior Lien Water System Revenue Bonds, Series 7/15 at 100.00  AAA  1,376,910 
  2005, 5.000%, 7/01/29 - MBIA Insured      
$ 86,413  Total Long-Term Investments (cost $88,533,838) - 144.9%     91,903,724 
Other Assets Less Liabilities - 2.4%  1,536,480
Preferred Shares, at Liquidation Value - (47.3)%  (30,000,000 )
Net Assets Applicable to Common Shares - 100%  $ 63,440,204
   
 
 

(1 )  All percentages shown in the Portfolio of Investments are based on net assets applicable to Common shares 
  unless otherwise noted. 
*   Optional Call Provisions: Dates (month and year) and prices of the earliest optional call or redemption. There 
  may be other call provisions at varying prices at later dates. Certain mortgage-backed securities may be 
  subject to periodic principal paydowns. 
**   Ratings: Using the higher of Standard & Poor's or Moody's rating. 
***   Securities are backed by an escrow or trust containing sufficient U.S. Government or U.S. Government agency 
  securities which ensures the timely payment of principal and interest. Such securities are normally considered 
  to be equivalent to AAA rated securities. 
N/R   Investment is not rated. 

Income Tax Information

The following information is presented on an income tax basis. Differences between amounts for financial statement and federal income tax purposes are primarily due to timing differences in recognizing taxable market discount and timing differences in recognizing certain gains and losses on investment transactions.

At October 31, 2005, the cost of investments was $88,514,189.

Gross unrealized appreciation and gross unrealized depreciation of investments at October 31, 2005, were as follows:
Gross unrealized:   
   Appreciation  $ 3,712,848  
   Depreciation  (323,313 ) 
Net unrealized appreciation of investments  $ 3,389,535  

Item 2. Controls and Procedures.

  1. The registrant's principal executive and principal financial officers, or persons performing similar functions, have concluded that the registrant's disclosure controls and procedures (as defined in Rule 30a-3(c) under the Investment Company Act of 1940, as amended (the "1940 Act") (17 CFR 270.30a-3(c))) are effective, as of a date within 90 days of the filing date of this report that includes the disclosure required by this paragraph, based on their evaluation of the controls and procedures required by Rule 30a-3(b) under the 1940 Act (17 CFR 270.30a-3(b)) and Rule 13a-15(b) or 15d-15(b) under the Securities Exchange Act of 1934 (17 CFR 240.13a-15(b) or 240.15d-15(b)).
  2. There were no changes in the registrant's internal control over financial reporting (as defined in Rule 30a-3(d) under the 1940 Act (17 CFR 270.30a-3(d)) that occurred during the registrant's last fiscal quarter that have materially affected, or are reasonably likely to materially affect, the registrant's internal control over financial reporting.

Item 3. Exhibits.

File as exhibits as part of this Form a separate certification for each principal executive officer and principal financial officer of the registrant as required by Rule 30a-2(a) under the 1940 Act (17 CFR 270.30a-2(a)), exactly as set forth below: EX-99 CERT Attached hereto.


SIGNATURES

Pursuant to the requirements of the Securities Exchange Act of 1934 and the Investment Company Act of 1940, the registrant has duly caused this report to be signed on its behalf by the undersigned, thereunto duly authorized.

(Registrant)         Nuveen Arizona Premium Income Municipal Fund, Inc.        

By (Signature and Title)*          /s/ Jessica R. Droeger                     
                                                    Jessica R. Droeger
                                                    Vice President and Secretary

Date         12/29/05        

Pursuant to the requirements of the Securities Exchange Act of 1934 and the Investment Company Act of 1940, this report has been signed below by the following persons on behalf of the registrant and in the capacities and on the dates indicated.

By (Signature and Title)*         /s/ Gifford R. Zimmerman                    
                                                   Gifford R. Zimmerman
                                                   Chief Administrative Officer (principal executive officer) 

Date         12/29/05        

By (Signature and Title)*         /s/ Stephen D. Foy                              
                                                   Stephen D. Foy
                                                   Vice President and Controller (principal financial officer) 

Date         12/29/05        

* Print the name and title of each signing officer under his or her signature.