AZ SB1229

Establishes a student voucher program administered by the Arizona Board of Regents that allows eligible students to use vouchers for tuition and fees at any accredited public or private postsecondary institution in Arizona.

Requires students to submit an application, declare an academic major (for four-year degree programs), meet university course placement requirements, and obtain passing scores on placement tests using statewide standardized cut-scores to qualify for vouchers.

Sets voucher funding at an amount equivalent to the average in-state tuition rate of Arizona Board of Regents universities, with institutions receiving 50% upon enrollment and 50% upon student's successful semester completion; any institutional scholarships or grants are subtracted from the voucher amount.

Limits voucher eligibility to four academic years and requires students to maintain full-time enrollment (minimum 12 credit hours per semester) and satisfy institutional grade point average and course completion requirements.

Appropriates an unspecified amount from the state general fund in fiscal year 2014-2015 to the Arizona Board of Regents for voucher costs and requires the Legislative Council to prepare conforming legislation for the next legislative session.