AZ SCR1040

Proposes amendment to Arizona Constitution Article IX, Section 21 to change the base fiscal year for calculating school district aggregate expenditure limitations from 1979-1980 to 2022-2023.

Maintains the requirement that aggregate expenditures of local revenues for all school districts cannot exceed the limitation adjusted for student population changes and cost of living, multiplied by 1.10.

Allows the legislature to authorize expenditures exceeding the limitation for a single fiscal year by concurrent resolution with a two-thirds affirmative vote of each house.

Establishes that individual school districts must have expenditure limitations set by law, with excess expenditures requiring approval by a majority of voting electors.

Requires submission of the proposed constitutional amendment to voters at the next general election.