HCR2047 is a resolution proposing an amendment to the Arizona Constitution that aims to establish a minimum annual distribution rate of 6.9% for the Permanent State School Fund until fiscal year 2036, pending voter approval in a special election in 2025. This amendment seeks to protect the distribution rate from reductions by state officials unless a three-fourths majority in both legislative chambers approves such changes. Furthermore, it mandates the creation of a statewide classroom teacher compensation program, ensuring that any additional funds beyond the minimum distribution are allocated to enhance teacher salaries, thereby addressing the critical issue of teacher compensation in Arizona.

The resolution also includes provisions for the management of the Permanent State School Fund, stipulating that funds generated from state and school lands be deposited into separate permanent funds without the possibility of transferring between them. It establishes guidelines for investment in safe, interest-bearing securities and creates a board of investment to oversee these funds. The amendment specifies varying distribution rates for different fiscal years, with a focus on maintaining educational funding continuity and allowing for adjustments based on market performance. The Secretary of State is responsible for presenting this proposition to voters in the upcoming special election in 2025.