The bill proposes amendments to section 41-563 of the Arizona Revised Statutes, which pertains to expenditure limitations for various political subdivisions, community college districts, and school districts. The amendments include changes to the language for clarity, such as replacing "prior to" with "before," "which" with "that," and "thus" with "determined." Additionally, the bill updates the base year for school district expenditure limits from fiscal year 1979-1980 to fiscal year 2024-2025 and adjusts the reference years for determining student and population counts to more recent years.

The bill also stipulates that the economic estimates commission must adjust calculations for the aggregate expenditure limitation for the fiscal year 2025-2026. Importantly, the act's effectiveness is contingent upon the amendment of the Constitution of Arizona by a public vote at the next general election, as outlined in a specified Senate Concurrent Resolution. If passed, the changes would apply to fiscal years starting after June 30, 2025.

Statutes affected:
Introduced Version: 41-563