AZ HB2374

Reduces district additional assistance for school districts by $293.7 million in FY 2018-2019, declining incrementally to $58.7 million by FY 2022-2023, with no reduction in FY 2023-2024.

Applies proportional reductions to school districts not eligible for basic state aid funding in the same amounts as those receiving state aid.

Reduces charter additional assistance for charter schools by $15.5 million in FY 2018-2019, declining to $3.1 million by FY 2022-2023, with proportional distribution among all charter schools and no reduction in FY 2023-2024.

Requires the Department of Education to reduce school district budget limits accordingly in response to the prescribed funding reductions across all fiscal years.