The resolution HCR2047 seeks to amend the Arizona Constitution to establish a minimum annual distribution rate of 6.9% from the Permanent State School Fund, based on the preceding five-year average monthly market values, until fiscal year 2036. This measure aims to provide stable funding for educational programs and services, with any reductions below this threshold requiring a three-fourths majority approval from both legislative chambers. Additionally, the resolution mandates the creation of a statewide classroom teacher compensation program, funded by any earnings exceeding a 2.5% distribution rate, to enhance teacher salaries and ensure accountability through performance-based criteria.

Furthermore, the resolution outlines the management of the Permanent State School Fund, including notification requirements for potential distribution rate reductions to protect the fund's capital. It establishes a framework for separate permanent funds for various state grants, prohibits inter-fund transfers, and mandates investment in safe, interest-bearing securities overseen by a designated board. The amendment also specifies distribution rates for different fiscal years, allowing for adjustments based on market performance and the allocation of excess earnings to support state aid and teacher salary increases, pending voter approval in a special election scheduled for 2025.