AZ SCR1014

Establishes annual determination process by the Joint Legislative Budget Committee beginning fiscal year 2027-2028 to calculate state general fund revenues against a growth limit based on fiscal year 2026-2027 revenues adjusted for inflation and population growth.

Defines "structural surplus" as the difference between ongoing state general fund revenues and expenditures after adjusting for increases, as estimated by the Joint Legislative Budget Committee.

Creates "Arizona taxpayer return" equal to 50 percent of the structural surplus for the following fiscal year when ongoing revenues exceed the growth limit.

Requires the Department of Revenue to reduce individual income tax rates beginning in taxable year 2028 by an amount equal to the Arizona taxpayer return calculated for that year.

Submits the proposition to voters at the next general election per Article IV, Part 1, Section 1 of the Arizona Constitution.