AZ HB2331

Prohibits public bonds from being issued by entities not governed by an elected governing body, with an exception for governing bodies that include members appointed to fill elected positions.

Prevents formation of new industrial development authorities if aggregate expenditures by the political subdivision and existing authorities would exceed constitutional limits under Article IX, Section 20 of the Arizona Constitution.

Prevents creation of new special taxing districts and prohibits increased ad valorem tax levies if combined taxes would meet or exceed limits prescribed in Article IX, Section 19 of the Arizona Constitution.

Prevents special taxing districts from making new or increased expenditures if combined expenditures would exceed limits prescribed in Article IX, Section 20 of the Arizona Constitution.

Applies limitations to 29 categories of special taxing districts including fire districts, hospital districts, irrigation districts, water conservation districts, transportation authorities, and various other local improvement districts.