The resolution SCR1015 proposes an amendment to the Arizona Constitution that aims to protect the annual distribution rate from the Permanent State School Fund. Specifically, it seeks to constitutionally prohibit the state or any state officer from reducing this distribution rate below 6.9% of the average monthly market valuation for the previous five years until fiscal year 2036, unless certain conditions are met. Starting in FY 2036, any increase in expendable earnings from the fund must be appropriated for a statewide classroom teacher compensation program, which is intended to enhance the base salary and salary schedule for eligible teachers. The resolution mandates that the 57th Legislature enact legislation to implement this program.

Additionally, the resolution outlines the conditions under which the distribution rate can be reduced before FY 2036, including a requirement for notification from the Directors of the Office of Strategic Planning and Budgeting and the Joint Legislative Budget Committee if the fund's market values decline. It also stipulates that any reductions in distribution must be approved by a three-fourths majority of the legislature. The resolution will be submitted to voters for approval in a special election in 2025, and it will take effect only if approved by the voters and proclaimed by the Governor.