AZ HCR2056

Proposes to amend Arizona Constitution Article X, Section 7 to extend the higher distribution period from permanent funds through fiscal year 2034-2035 (rather than ending in 2024-2025).

Changes the distribution rate for fiscal years 2025-2026 through 2034-2035 to remain at 6.9% of the average monthly market values of the fund for the preceding five calendar years.

Shifts the reversion to the lower 2.5% distribution rate to begin in fiscal year 2035-2036 (instead of 2025-2026).

Requires that increased expendable earnings from distributions above 2.5% be appropriated for basic state aid and inflation adjustments in K-12 education during the extended 2025-2026 through 2034-2035 period.

Directs the Secretary of State to submit the proposition to Arizona voters at a special election on August 5, 2025.