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AZ SCR1045
Concurrent Resolution
Status
Introduced
2/5/2026
Primary Sponsor
Eva Diaz
Click for details
AI Summary
- Proposes a constitutional amendment to extend the higher 6.9% annual 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%
- Requires all increased distributions from the permanent state school fund be appropriated specifically for basic state aid, including inflation adjustments for K-12 education funding
- Maintains existing safeguards allowing the legislature to reduce distributions to between 2.5% and 6.9% if the fund's average monthly market values decline over the preceding five-year period
- Specifies that monies from the extended higher distribution rate must supplement (not replace) existing school funding and be used to increase base funding levels above fiscal year 2026-2027 amounts
- Must be approved by voters at the next general election before taking effect as a constitutional amendment
Legislative Description
Permanent funds; land trust; distributions
Last Action
Senate read second time
2/9/2026
Committee Referrals
Rules2/5/2026
Education Accountability and Reform2/5/2026
Full Bill Text
No bill text available