AZ SCR1032

Amends Arizona Revised Statutes section 37-521 to modify how permanent state school fund distributions are used beginning in fiscal year 2026-2027.

Prioritizes annual transfers to state school facilities revenue bond debt service funds before distributing monies for other uses, if outstanding bonds exist and available monies exceed requirements.

Adds new paragraph requiring state treasurer and state land department to guarantee financing for common schools, including debt obligations for school districts and charter schools to acquire, construct, renovate, equip, refinance or improve capital facilities.

Requires monies from permanent state school fund distributions to be used for capital facility purposes consistent with Arizona law before any transfers for other authorized uses.

Submits the measure to Arizona voters at the next general election for approval as a constitutional referendum.