AZ SB1251

Amends Arizona law to add Article 7 to Title 42, Chapter 1, establishing conditions for suspending tax rate reductions and credits.

Defines a "trigger event" as occurring when at least one of three conditions is met: K-12 per student state funding equals the national median, 94% of third graders read at grade level, or the high school graduation rate reaches 93%.

Requires the Superintendent of Public Instruction to report annually by December 1 whether a trigger event has occurred to the Governor, Department of Revenue director, and legislative leadership.

Suspends the corporate income tax rate reduction (to 6% or $50 minimum) and reduces the assessed valuation of Class One property to 18.5% of full cash value until a trigger event occurs.