The resolution SCR1047 authorizes Arizona school districts to exceed the aggregate expenditure limitation (AEL) for the fiscal year 2025, allowing them to spend local revenues beyond the constitutional cap. The AEL is set based on the spending levels from fiscal year 1980, adjusted for inflation and enrollment, plus an additional 10%. The Economic Estimates Commission is responsible for publishing the AEL annually, and if school districts exceed this limit, they must reduce their expenditures proportionally unless the legislature grants permission to exceed the limit.

To enact this resolution, it requires the approval of at least two-thirds of the members in both the Arizona Senate and House of Representatives. There is no anticipated fiscal impact on the state General Fund as a result of this legislation. The resolution aims to provide school districts with greater financial flexibility to address their funding needs in the upcoming fiscal year.