AZ SB1101

Establishes a "Calculated Opportunity Index" to provide additional school funding based on the percentage of students eligible for free or reduced-price lunches exceeding the statewide average.

Requires the superintendent of public instruction to determine the index annually by February 1 using poverty-level data and multiply the excess percentage by 0.059 to calculate additional funding weights for individual schools.

Modifies the base support level formula to add the calculated opportunity index to the teacher experience index when computing school district funding, rather than multiplying them together.

Requires school districts and charter schools receiving opportunity index funding to submit annual reports by October 15 showing academic growth of students at schools that generated the additional funding.

Limits desegregation cost exemptions from revenue control limits by reducing them by 50 percent of any increase from the calculated opportunity index, allowing districts to use opportunity index funds toward desegregation compliance.