AZ SB1617

Amends Arizona's K-12 education funding formulas and definitions, including changes to average daily membership calculations and base support level determinations for fiscal year 2011-2012 and beyond.

Establishes the Education Learning and Accountability System to collect and maintain longitudinal student-level data for public educational institutions from preschool through postsecondary, with contracts subject to joint legislative budget committee review.

Implements budget reductions for fiscal year 2011-2012 including $188.1 million soft capital allocation cut, $63.9 million capital outlay revenue limit reduction, 91% funding for joint technical education districts, and suspension of school facilities board new construction and building renewal fund distributions.

Creates the Education Learning and Accountability Fund supported by one-time deposits of $6 per full-time equivalent student from community colleges and universities, with funds exempt from lapsing appropriations.

Limits career ladder and optional performance incentive program base level increases to 4% (2011-12), 3% (2012-13), 2% (2013-14), and 1% (2014-15), restricts program participation to prior year participants, and repeals sections 15-918 and 15-919 effective June 30, 2015.