AZ HB2884

Amends Arizona Revised Statutes Section 15-1661 regarding appropriations to institutions under the Arizona Board of Regents' jurisdiction.

Appropriates $88,269,367 for fiscal year 2020-2021, $176,538,733 for fiscal year 2021-2022, and $264,808,100 for fiscal year 2022-2023 from the state general fund to the Arizona Board of Regents to distribute to universities for resident student tuition costs.

Beginning in fiscal year 2023-2024, appropriates an amount equal to $7,900 multiplied by the basic actual full-time equivalent student enrollment of resident students from the immediately preceding fiscal year.

Starting in fiscal year 2024-2025 and thereafter, appropriates amounts that increase annually by a minimum of 2 percent or the change in the GDP price deflator (whichever is less), but appropriated amounts cannot be reduced below the fiscal year 2022-2023 level.

Makes technical corrections to existing statutes including grammatical changes and clarifications regarding enrollment audits, salary increases, and undergraduate credit hour thresholds.