AZ SB1463

Amends Arizona Revised Statutes Section 41-563 to modify the Economic Estimates Commission's authority regarding expenditure limitation adjustments for political subdivisions.

Adds new language allowing the commission to adjust base limits of political subdivisions when the state transfers the cost of providing a governmental function to a political subdivision, by increasing the base limit of the receiving subdivision.

Clarifies that transfers of governmental function costs from the state to political subdivisions must be reflected in base limit adjustments pursuant to Article IX, Section 20, subsection (4) of the Arizona Constitution.

Maintains existing procedures for the Economic Estimates Commission to determine and report expenditure limitations for political subdivisions, community college districts, and school districts based on population changes and GDP price deflator adjustments.