AZ HB2435

Allows school districts meeting specific criteria to correct overstatements of daily route mileage from fiscal years 2011-2012, 2012-2013, and 2013-2014 over a three-year repayment period from fiscal year 2016-2017 through 2018-2019 in equal annual installments.

Applies only to common school districts with average daily membership between 100 and 150 pupils in fiscal year 2014-2015 and total overstatement amounts between $200,000 and $250,000.

Requires repayment of accrued interest at a rate determined by the superintendent of public instruction in addition to the principal repayment amount.

Mandates that affected school district governing boards adopt a formal resolution to comply and submit to annual daily route mileage audits upon request from the department of education.

Designated as an emergency measure operative immediately upon enactment, approved by the governor on March 24, 2016.