This bill amends section 41-563 of the Arizona Revised Statutes, primarily updating the base limit for expenditure limitations for political subdivisions, community college districts, and school districts. The current law uses fiscal year 1979-1980 as the reference year for determining the base limit, while the new bill changes this reference year to fiscal year 2024-2025 for school districts. Additionally, the deadlines for reporting population estimates and other relevant data to governing boards have been adjusted to "before" specific dates rather than "prior to," and the office responsible for population estimates has been updated from the Department of Economic Security to the Office of Economic Opportunity.

Furthermore, the bill introduces a provision that the economic estimates commission will adjust calculations for the aggregate expenditure limitation for fiscal year 2025-2026 based on the new amendments. Importantly, the act will only take effect if the Arizona Constitution is amended by a public vote at the next general election, specifically relating to expenditure limitations, and will apply to fiscal years starting after June 30, 2025.

Statutes affected:
Introduced Version: 41-563