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 fund's distribution rate from being reduced below this threshold unless a three-fourths majority in both legislative chambers approves such a change. Additionally, the resolution mandates the creation of a statewide classroom teacher compensation program, ensuring that any earnings exceeding 2.5% are allocated to enhance teacher salaries, thereby emphasizing the importance of maintaining educational funding for current and future students.

The resolution also details the management of the Permanent State School Fund, including provisions for the establishment of separate permanent funds for various state grants and the prohibition of fund transfers between these accounts. It mandates that all funds be invested in safe, interest-bearing securities, overseen by a board of investment with specific guidelines. The amendment outlines the distribution of earnings from these funds, setting different rates for various fiscal years and allowing for adjustments based on market performance. The Secretary of State is responsible for submitting this proposition to voters in the upcoming special election in 2025.