AZ SB1523

Establishes merit-based regents scholarships for Arizona residents who obtain letter grades of A or B in each core academic course required for high school graduation and are admitted to an Arizona Board of Regents university.

Requires universities to annually report and publicly disclose scholarship award data including total number and dollar amount of awards, applicant numbers, selection criteria, SAT/ACT score ranges, and breakdown between newly awarded and renewed scholarships.

Mandates universities notify students of scholarship awards in a timely manner regardless of whether students attend public, private, or charter schools or are homeschooled.

Increases the annual appropriation for Arizona Board of Regents institutions beginning in fiscal year 2019-2020 by a minimum growth rate of either 2 percent or the GDP price deflator (whichever is less), with appropriations not falling below fiscal year 2018-2019 levels.

Makes various technical amendments to existing statutes governing Board of Regents operations, including clarifications to enrollment audit procedures and full-time equivalent student calculations.