AZ SB1275

Requires the joint legislative budget committee to compute and transmit "truth in spending" estimates to appropriations and finance committees by February 15 each year, beginning in 2013.

Truth in spending estimates adjust current fiscal year appropriations by the combined percentage change in state population and cost of living (using GDP price deflator) for the most recent twelve-month period.

Mandates that if the legislature proposes general fund or total appropriations exceeding the truth in spending estimates, the house and senate appropriations committees may hold a joint public hearing with at least 14-20 days advance notice.

Requires publication of a standardized notice on the legislature's website with the headline in at least 18-point type, showing the proposed spending increase percentages and comparing them to the population plus inflation rate.

Allows the joint appropriations committee hearing to include a roll call vote on any motion to recommend the proposed spending levels to the full legislature.