HB 2688 Summary

• Changes the base year for school district expenditure limitations from fiscal year 1979-1980 to fiscal year 2023-2024.

• Updates the baseline student population calculation for school districts from school year 1978-1979 to school year 2022-2023.

• Updates GDP price deflator calculations to use 2022 calendar year instead of 1978 calendar year for school district expenditure limitation determinations.

• Modifies reporting deadlines for school district expenditure limitations from March 1 and May 1 to align with the new calculation methodology.

• Bill effectiveness is conditional on approval of a constitutional amendment (HCR __) by Arizona voters at the next general election.