HB 2551 Summary

• Establishes an education authority district in each Arizona county with boundaries matching county borders, governed by a board appointed from school districts, labor organizations, STEM groups, economic development entities, workforce development organizations, and nonprofits.

• Authority board must submit an operating plan within 90 days specifying how tax revenues will be spent over 20 years, with at least 90% of revenues going to grants for school districts and nonprofits supporting science, technology, engineering, arts and mathematics programs.

• Authorizes county voters to approve five specific excise taxes lasting 30 years: 0.35% on car rentals, 0.45% on hotels/motels, 0.25% on restaurants/bars, 0.375% on amusements/sporting events, and 0.15% on retail sales.

• County board of supervisors serves as the authority's board of directors and must approve the annual budget; authority board must cap administrative costs at 10% of revenues and school districts at 5% of grant funds.

• Requires annual independent audits, quarterly legislative reports, and performance audits by the Arizona Auditor General at least every five years beginning in 2012.