AZ HB2487

Establishes a new teacher salary increases fund by requiring $50 million annually from state lottery revenues to be deposited into the fund after other mandated allocations are made.

Distributes teacher salary fund monies to school districts and charter schools proportionally based on their average daily membership counts in the preceding fiscal year, exclusively for increasing classroom teacher salaries.

Modifies the state lottery fund allocation hierarchy by inserting the new teacher salary fund requirement as section D, adjusting subsequent allocations and renumbering existing provisions accordingly.

Makes the teacher salary increases fund continuously appropriated and exempt from lapsing provisions, allowing monies to be invested with earnings credited back to the fund.

Updates the disease control research fund to reference the corrected lottery fund provision from which it receives monies.