AZ SB1258

Amends Arizona's online instruction funding formula by changing average daily membership calculations for kindergarten through grade 12, replacing hourly instruction-based calculations with enrollment-based snapshots taken on September 15, November 15, January 15, and March 15.

Reduces full-time online student funding from 95% to an unspecified percentage and part-time online student funding from 85% to an unspecified percentage of the base support level (specific percentages appear to be redlined in the text).

Modifies high school part-time student funding requirements, changing the instructional hours threshold from 580 hours to 540 hours for students enrolled in three subjects at 75% average daily membership.

Changes seventh and eighth grade full-time student instructional hour requirements from 1,068 hours to 1,000 hours beginning in fiscal year 2010-2011.

Updates bonded indebtedness calculations to reference "student count" instead of "average daily membership" when determining the $1,500 per student threshold for class B bond issuance limits.