AZ SB1422

Amends Arizona Revised Statutes Section 15-1626 regarding powers and duties of the Arizona Board of Regents.

Modifies tuition and fee revenue procedures by requiring tuition and fees to be deposited in separate local tuition and fees subaccounts for each university and consisting only of tuition and fees.

Establishes that universities must comply with public hearing and disclosure requirements for tuition and academic fee increases, including roll call votes on final board actions.

Requires the Board of Regents to adopt a performance funding model using metrics such as degrees awarded, completed student credit hours, and externally generated research funding, with emphasis on STEM and high-value degrees.

Requires annual reporting to the joint legislative budget committee by November 1 detailing university debt and obligations, including long-term notes, bonds, and revenue obligations.