AZ HB2215

Amends Arizona Revised Statutes Section 15-1464 to replace references to "capital outlay" with "workforce training equipment" throughout the community college funding statute.

Establishes state aid distribution to community college districts based on full-time equivalent students, with differentiated per capita amounts for smaller districts ($207) versus larger districts ($158) in fiscal year 1992-1993.

Requires the legislature to adjust state aid amounts annually beginning in fiscal year 1993-1994 using the growth rate for common and high school districts, subject to appropriation.

Allows community college districts to use up to 20 percent of their workforce training equipment aid appropriation for operating expenses, or alternatively, transfer up to 20 percent from operating aid to equipment purposes.

Creates a workforce training equipment fund to receive appropriations and establishes procedures for district boards to claim annual allocations from the state.