The proposed bill, HB2719, amends existing laws regarding local bond elections in Arizona. It consolidates these elections to occur only in even-numbered years and raises the required voter approval threshold from a simple majority to at least 60 percent for the issuance of bonds or creation of indebtedness. Additionally, the bill increases the number of petition signatures needed to call for a bond election from 15 percent to 25 percent of qualified electors. It also stipulates that any bond election scheduled for 2025 cannot take place before 2026 and exempts charter cities from these new requirements.

Overall, the bill aims to enhance voter engagement and ensure a higher level of consensus for local financial decisions, while also standardizing the timing of bond elections. The changes reflect a significant shift in the governance of local finance, emphasizing the need for a supermajority vote and limiting election frequency to even-numbered years, which may impact how municipalities approach funding for public projects.

Statutes affected:
Introduced Version: 9-524, 15-1465, 16-204, 35-452, 35-453, 35-455, 35-451
House Engrossed Version: 9-524, 15-1465, 16-204, 35-452, 35-453, 35-455, 35-451
Senate Engrossed Version: 9-524, 9-527, 15-1465, 16-204, 35-452, 35-453, 35-455, 35-451