AZ HB2524

Establishes the elderly assistance fund to reduce primary school district taxes for qualified individuals, administered by the state treasurer with monies continuously appropriated.

Directs state treasurer to distribute fund monies to county treasors proportionately based on the number of qualified individuals in each county to reduce their primary school district taxes.

Requires each county treasurer to report the total number of qualified individuals by June 30 annually; counties failing to report will not receive distributions for the following fiscal year.

Defines "qualified individual" as a person living in an organized school district who is approved for the property valuation protection option under Arizona Constitution Article IX, Section 18, subsection (7).

Repeals Title 42, Chapter 17, Article 8 of Arizona Revised Statutes and removes references to elderly assistance fund interest earnings from the taxpayers' information fund; effective December 31, 2024.