AZ HB2342

Amends Section 15-994, Arizona Revised Statutes to modify how state equalization assistance property tax revenues are handled by county treasurers.

Requires county treasurers to transfer all monies collected from the state equalization assistance property tax levy to the state treasurer for deposit in the state general fund, subject to legislative appropriation for the county's benefit.

Maintains the requirement that county treasurers apportion these funds to school districts within the county in accordance with Section 15-971, subsection C at the same time as other tax levy monies are apportioned.

Applies retroactively to tax year 2010.

Requires approval by at least two-thirds of both houses of the legislature and takes effect immediately upon the governor's signature or upon a three-fourths vote override of a gubernatorial veto.