AZ SB1661

Establishes the Arizona Promise Scholarship Program administered by the Department of Administration with oversight by a newly created Arizona Promise Scholarship Commission.

Awards eligible students $4,000 annual scholarships for a maximum of two years if they are enrolled in community college, graduated high school with a 3.0+ GPA, and deposited at least $500 into a qualified education savings account.

Students may reapply for a second year of funding if they deposit an additional $500 into their account and maintain good academic standing.

Appropriates $96,000,000 from the state general fund in fiscal year 2020-2021 to the Arizona Promise Scholarship Fund, with funds continuously appropriated and exempt from lapsing.

Program ends July 1, 2030; the oversight commission ends July 1, 2028.