The proposed bill would amend several sections of the Arizona Revised Statutes to update the information required in pamphlets and notices related to budget overrides and bond elections. Specifically, it would require the inclusion of the tax rate and estimated costs associated with proposed capital improvements for single-family homes valued at $100,000 and $400,000, replacing the previous requirement for homes valued at $80,000. Additionally, the bill mandates that the estimated tax impact of property tax increases on homes valued at $400,000 be included in Truth in Taxation (TNT) notices and informational pamphlets for school district budget overrides and Class B bond elections.

Furthermore, the bill would enhance transparency by requiring that the estimated tax impact of bond debt service for owner-occupied residences valued at $400,000 and commercial properties valued at $2,000,000 be included in bond election pamphlets. It also specifies that ballots for proposed general obligation bond authorizations must clearly state that the principal and interest will be paid through property taxes without limit as to rate or amount. Overall, these updates aim to provide clearer financial information to voters regarding the implications of tax increases associated with proposed budget and bond measures.

Statutes affected:
Introduced Version: 15-481, 15-491, 15-905.01, 15-1461.01, 35-454, 41-1276, 42-17107, 48-254, 16-204, 15-905, 42-12003, 42-12001, 15-422, 15-423, 15-424, 15-426, 15-403, 15-947, 15-482, 15-949, 15-971, 15-447, 15-342, 15-493, 15-401, 15-402, 15-910, 15-910.01, 1999-2000, 15-995, 15-907, 42-17052, 42-17002, 42-17051, 15-1461, 42-17105, 42-12002, 42-17151, 42-17103, 42-17104
House Engrossed Version: 15-481, 15-491, 15-905.01, 15-1461.01, 35-454, 41-1276, 42-17107, 48-254, 16-204, 15-905, 42-12003, 42-12001, 15-422, 15-423, 15-424, 15-426, 15-403, 15-947, 15-482, 15-949, 15-971, 15-447, 15-342, 15-493, 15-401, 15-402, 15-910, 15-910.01, 1999-2000, 15-995, 15-907, 42-17052, 42-17002, 42-17051, 15-1461, 42-17105, 42-12002, 42-17151, 42-17103, 42-17104