This resolution proposes an amendment to the Constitution of Arizona, specifically amending Article IX, Section 21, which pertains to expenditure limitations for school districts and community college districts. The amendment includes changes to the base fiscal year used for calculating expenditure limitations from 1979-1980 to 2024-2025, reflecting changes in student population and cost of living. It also modifies the language for clarity and updates the procedures for the Economic Estimates Commission to determine and publish expenditure limitations for community college districts and school districts. The amendment allows for expenditures in excess of the limitation to be authorized by a two-thirds vote of the legislature for a single fiscal year.

The resolution stipulates that the proposed amendment would apply to fiscal years beginning after June 30, 2025, and directs the Secretary of State to submit the proposition to voters at the next general election. The amendment aims to update the expenditure limitation process to better reflect current economic conditions and provide a more relevant framework for managing the finances of educational institutions in Arizona.