AZ HB2802

Amends section 41-1276, Arizona Revised Statutes, to modify the state equalization assistance property tax rate computation and phase-out schedule.

Beginning in tax year 2012, the state equalization assistance property tax rate shall be reduced each year by one-fifth of the tax year 2011 rate.

Beginning in tax year 2016, the state equalization assistance property tax rate shall be reduced to zero.

Maintains existing truth in taxation procedures requiring the joint legislative budget committee to compute and transmit equalization assistance rates to legislative committees and the superintendent of public instruction.