AZ HCR2055

Proposes an amendment to Arizona Constitution Article IX, Section 23 requiring that any initiative or referendum measure proposing mandatory state expenditures must provide an increased revenue source sufficient to cover all immediate and future costs of the proposal.

Specifies that the required revenue source cannot be derived from the state general fund and cannot reduce or cause a reduction in general fund revenues.

Allows the legislature to reduce expenditures for that purpose in any fiscal year to match the amount of funding supplied by the identified revenue source if the revenue source fails to fully fund the mandated expenditure.

States that if an initiative or referendum fails to identify a sufficient revenue source other than the general fund, the expenditure is subject to legislative appropriation notwithstanding any other constitutional provision.

Directs the Secretary of State to submit the proposition to voters at the next general election.