AZ HCR2037

Proposes amendment to Arizona Constitution Article IX to add Section 25 regulating transfers from the budget stabilization fund to the general fund.

Prohibits legislature from transferring money from the budget stabilization fund when current fiscal year general fund appropriations exceed the immediately preceding fiscal year's appropriations.

Allows transfers from the budget stabilization fund only when current year appropriations equal or are less than the prior year, and current year revenues fall short of appropriations.

Limits any single fiscal year transfer amount to only what is needed to make current revenues equal current appropriations.

Requires legislature to replenish the budget stabilization fund if it makes subsequent appropriations that would increase current year appropriations above the prior year level after withdrawing from the fund.