AZ SB1043

Repeals section 15-911 of Arizona Revised Statutes relating to school district expenditure limitations.

Amends section 15-1285 to exempt monies received by school districts and career technical education districts from budgetary, expenditure, or revenue control limits.

Removes school districts from the economic estimates commission's expenditure limitation determination process under section 41-563, eliminating subsection C that previously required the commission to determine aggregate expenditure limitations for all school districts.

Amends sections 42-5010 and 42-5010.01 to clarify that transaction privilege tax rates imposed by the legislature or voters are not considered local revenues for purposes of Article IX, section 21 of the Arizona Constitution.

Requires passage of a constitutional amendment (Senate Concurrent Resolution) by voters at the next general election to become effective for fiscal years beginning after June 30, 2025, and requires a three-fourths vote of both legislative houses.