AZ HB2777

Repeals section 15-911, Arizona Revised Statutes, regarding 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 by striking subsection C of section 41-563.

Amends sections 42-5010 and 42-5010.01 to clarify that transaction privilege tax revenues are not considered local revenues for purposes of article IX, section 21 of the Arizona Constitution.

Becomes effective only upon voter approval of a related House Concurrent Resolution amending the Arizona Constitution and requires a three-fourths vote in both houses of the legislature.