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AZ HB2402
Bill
Status
2/19/2016
Primary Sponsor
Vince Leach
Click for details
AI Summary
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Standardizes bond election ballot language across multiple Arizona statutes (school districts, counties, cities, towns, fire districts, and other special districts) to require ballots appear in the form prescribed by section 35-454, subsection C with statements about property tax increases and estimated costs.
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Modifies section 35-454 to require bond election informational pamphlets include estimated tax impacts at both the estimated interest rate based on current market conditions and at the maximum authorized interest rate for owner-occupied residences, commercial property, and agricultural property.
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Requires the informational pamphlet to specify total estimated costs in bold-faced type and include a disclosure that bond expenditures are governed by general purposes rather than specific proposed projects listed on the ballot.
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Adds a requirement that if a bond authorization combined with outstanding debt exceeds the political subdivision's constitutional debt limit, this must be disclosed in bold-faced type on the ballot.
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Makes technical corrections including changing "per cent" to "percent," "his" to "the voter's," and clarifying ballot language across school bond elections, fire district elections, and other special district bond elections.
Legislative Description
Bonds; disclosure; notice
Last Action
House minority caucus: Do pass
3/21/2016