AZ HB2762

Establishes the Project Rocket pilot program to improve academic outcomes in schools with C, D, or F letter grades that serve at least 60% low-income students, providing $150 per student funding for fiscal years 2020-2021, 2021-2022, and 2022-2023.

Requires eligible schools to submit improvement plans by October 1, 2020, which may include targeted academic interventions, class size reduction, professional development, or adaptive technology, with schools rated D or F optionally selecting a mentor or independent school improvement expert.

Mandates schools with F ratings to establish Project Rocket committees (including board members, administrators, teachers, and parents) and partner with state board-approved independent school improvement experts to implement improvement plans.

Appropriates $42,614,500 annually to the Project Rocket fund and $1,000,000 plus 7 FTEs annually to the state board of education to administer the program.

Requires annual reporting by participating schools on academic improvement and directs the state board of education to submit a final program evaluation report by December 1, 2023, with the program repealing December 31, 2023.