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. Beginning 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 also mandates that the 57th Legislature enact legislation to implement this program.

Additionally, the resolution outlines the process for potential reductions in the distribution rate, which can only occur with a three-fourths majority vote in both houses of the Legislature and under specific circumstances, such as a decline in the fund's average monthly market values. The resolution emphasizes the importance of maintaining the fund's capital and ensuring that any appropriated funds are used to supplement, rather than supplant, existing teacher compensation. If approved by voters, the amendment will take effect upon proclamation by the Governor.