AZ HB2330

Amends Arizona Revised Statutes sections 15-972, 42-5029, 42-5031, 42-6202, and 42-15152 relating to state shared revenues and property taxation.

Modifies section 15-972 to establish procedures for the property tax oversight commission to determine and withhold state shared monies from cities and towns to compensate school districts when government property improvements (GPLETs) would cause property tax violations of the 1% constitutional limit.

Requires the state treasurer to withhold distributions from state shared revenues to cities, towns, and stadium districts and redirect those funds to affected school districts for additional state aid when property tax violations occur due to government property improvements.

Updates section 42-6202 to require county assessors to determine full cash value of government property improvements at market value and transmit those valuations to the property tax oversight commission and county board of supervisors by December 31 of each valuation year.

Adds government property improvements to the property tax roll in section 42-15152, including those subject to abatement under the government property lease excise tax provisions.