AZ SCR1036

Proposes amendment to Arizona Constitution Article IX, Section 17 to replace the existing 7% appropriation limit on state revenues with a new limit based on prior year appropriations adjusted by population growth and cost of living changes, effective fiscal year 2011-2012.

Defines "state revenues" to include all monies, revenues, fees, fines, and receipts received by state agencies, with specified exclusions for bond proceeds, grants, property sales, and inter-agency transfers.

Allows legislature to exceed the appropriation limit for one fiscal year through voter approval at a statewide election (requiring two-thirds legislative vote and gubernatorial approval) or in declared emergencies (requiring three-fourths legislative vote and gubernatorial approval) for extraordinary nonrecurring expenses.

Permits appropriations exceeding the limit for state budget stabilization fund (up to 10% of current limit), state emergency fund (up to 5% of current limit), and taxpayer refund programs established by law.

Grants any resident taxpayer standing to enforce the appropriation limitation in court and requires the Economic Estimates Commission to publish revenue estimates by February 1 (preliminary) and April 1 (final) of each year.