The resolution HCR2031 proposes an amendment to the Arizona Constitution regarding the management and distribution of funds from the permanent state school fund. It aims to establish a new distribution rate of five percent of the average monthly market values of the fund over the preceding five years, starting in fiscal year 2025-2026. The amendment also mandates that the legislature appropriate these funds to the Superintendent of Public Instruction for distribution to public schools, specifically to support teacher wage increases. Additionally, it removes provisions that allowed the legislature to reduce distributions with the governor's approval and requires that the funds be used solely for increasing eligible teachers' wages.

Furthermore, the resolution outlines specific requirements for public schools receiving these funds, including ensuring that wage increases are uniform for all eligible teachers and that the funds supplement, rather than replace, existing compensation. It also sets eligibility criteria for teachers to receive wage increases, such as full-time employment and meeting performance standards. The resolution includes a legislative intent clause to appropriate $72 million annually from the state general fund for basic state aid and mandates that the Secretary of State submit the proposition to voters in a special election in 2025.