AZ HCR2058

Proposes amendment to Article IX of Arizona Constitution by adding Section 25 to address state budget continuation if a new fiscal year budget is not enacted by June 30.

If a state department or agency budget for the next fiscal year has not been enacted by June 30, the current fiscal year's budget shall continue in effect until a new budget is enacted, regardless of initiative or referendum-approved funding formulas.

If remaining unbudgeted monies are inadequate to fund the current fiscal year's budget when no new budget is enacted by June 30, the department or agency budget shall be reduced proportionately, notwithstanding any voter-approved funding formulas.

Budget stabilization fund or similar fund monies may only be appropriated and expended in any fiscal year if state general fund revenue is less than the previous fiscal year.

Requires the Secretary of State to submit the proposition to voters at the next general election per Article XXI of the Arizona Constitution.