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AZ HCR2028
Concurrent Resolution
Status
Prefiled
N/A
Primary Sponsor
Nancy Gutierrez
Click for details
AI Summary
- Proposes a constitutional amendment to extend the elevated 6.9% distribution rate from Arizona's permanent land trust funds for an additional 10 years (fiscal years 2026-2027 through 2035-2036), after which the rate would drop to 2.5%
- Removes outdated fiscal year references from 2012-2016 and replaces them with the new 2026-2036 timeframe for the higher distribution rate
- Requires that increased distributions from the permanent state school fund be appropriated specifically for basic state aid, including inflation adjustments
- Mandates that additional monies supplement rather than replace existing school funding and be used to increase the base level or revenue control limit above fiscal year 2026-2027 levels
- Requires voter approval at the next general election to amend Article X, Section 7 of the Arizona Constitution
Legislative Description
Permanent funds; land trust; distributions.
Full Bill Text
No bill text available