AZ HCR2054

Proposes a constitutional amendment to Article IX, Section 3 of the Arizona Constitution requiring the state legislature to ensure the annual budget is balanced by June 30 of each year, with state obligations not exceeding ongoing or permanent state revenues for that fiscal year.

Maintains existing requirements that the legislature provide by law for an annual tax sufficient to cover ordinary state expenses and to pay state debt principal within twenty-five years from passage.

Preserves constitutional provisions that taxes may only be levied by law with distinct statement of the tax's purpose, and that all state taxes must be paid into the state treasury in money only.

Directs the Secretary of State to submit the proposition to voters at the next general election for voter approval under Article XXI of the Arizona Constitution.