HCR 2047 Summary

• Establishes a 3.5% income tax surcharge on taxable income above $250,000 (single filers) or $500,000 (joint filers) beginning in taxable year 2021, with revenues deposited into a new Student Support and Safety Fund.

• Creates the Student Support and Safety Fund to distribute revenues semi-annually to school districts and charter schools: 50% for teacher and classroom support staff hiring/compensation, 25% for student support services personnel, 10% for teacher mentoring and retention programs, 12% to a Career Training and Workforce Fund, and 3% to the Arizona Teachers Academy Fund.

• Establishes a Career Training and Workforce Fund to provide grants to schools for career technical education programs, academic acceleration, college-level courses, and grade nine intervention and student support services.

• Amends the Arizona Teachers Academy program to increase scholarship amounts to $10,000 annually for undergraduate and graduate students, with expanded provisions for teacher diversity research and development.

• Makes received education funding exempt from local revenue limitations under the Arizona Constitution and prohibits supplanting of existing education funding sources.