The proposed bill would significantly update current statutes related to school funding in Arizona by introducing a new state student funding formula (SSF formula) for charter schools, which would replace the existing method that combines base support level (BSL) and charter additional assistance (CAA). The bill would establish the SSF formula as the method for determining equalization assistance for charter schools, calculated by adding the BSL to specified state additional assistance (SAA) amounts of $2,025.29 for preschool through grade 8 and $2,360.44 for grades 9 through 12. It would also remove the previous per-student CAA amounts of $2,090.10 and $2,435.97 for the respective grade levels. Additionally, the bill would allow school districts to opt into the SSF formula under certain conditions and require districts using the SSF formula to calculate their equalization assistance based on SAA rather than district additional assistance (DAA). Moreover, the bill proposes updates to the Arizona empowerment scholarship account, including provisions for levying a tax rate to cover cash deficits from the previous fiscal year, contingent upon county recommendations and approvals. It would also clarify the withdrawal requirement for students enrolling in the scholarship program and enhance oversight of tutoring services. The calculation of funds transferred to the Arizona empowerment scholarship account would be updated to align with the new SSF formula, replacing the previous method based on the base support level and additional assistance. Overall, these changes aim to streamline funding processes and provide clearer guidelines for financial assistance in Arizona's educational system.

Statutes affected:
Introduced Version: 15-185, 15-808, 15-901, 15-901.04, 15-924, 15-947, 15-971, 15-992, 15-2402, 41-1276, 15-943, 15-941, 2015-2016, 2016-2017, 15-1042, 15-855, 15-973, 15-823, 15-308, 15-183, 15-512, 42-5029, 42-5029.02, 37-521, 15-792.02, 15-481, 15-482, 15-401, 15-402, 16-204, 15-910, 15-946, 15-949, 15-954, 15-995, 41-5741, 15-961, 15-391, 15-393, 15-701.01, 15-901.08, 15-447.01, 15-797, 15-495, 15-816.01, 15-761, 15-902.04, 2022-2023, 2023-2024, 2024-2025, 15-944, 15-765, 15-751, 15-752, 15-753, 15-501, 15-771, 15-945, 2021-2022, 15-943.01, 15-976, 15-825, 15-1204, 15-905, 15-825.01, 15-974, 15-910.01, 15-964, 15-447, 15-255, 15-904, 15-766, 15-767, 35-173, 15-972, 15-907, 42-16213, 42-17151, 15-2403, 15-2401, 15-505, 15-534.04, 28-9551, 15-802, 35-190, 2020-2021, 35-113, 15-2401.01