AZ SB1018

Changes the base year for calculating school district aggregate expenditure limitations from fiscal year 1979-1980 to fiscal year 2024-2025.

Changes the reference year for student population calculations from school year 1978-1979 to school year 2023-2024.

Changes the GDP price deflator reference year from 1978 calendar year to 2023 calendar year for school district expenditure limitation calculations.

Requires the economic estimates commission to adjust necessary calculations to determine the aggregate expenditure limitation for fiscal year 2025-2026 using the new base year methodology.

Conditional enactment requiring passage of a companion constitutional amendment (Senate Concurrent Resolution) by Arizona voters at the next general election, with applicability to fiscal years beginning after June 30, 2025.