The proposed bill would significantly update current statutes related to charter school funding in Arizona by introducing a new state student funding formula (SSF formula) for calculating equalization assistance. This formula replaces the existing method of combining base support level (BSL) and charter additional assistance (CAA) with a new calculation that adds BSL to prescribed state additional assistance (SAA) amounts of $2,025.29 for preschool through grade 8 and $2,360.44 for grades 9 through 12. The bill also removes the current per-student CAA amounts and eliminates the requirement for certain charter schools to reduce their BSL based on prior year funding received.

Additionally, the bill modifies the equalization assistance calculation for school districts that choose to adopt the SSF formula, replacing district additional assistance (DAA) with SAA and setting specific support level ratio percentages that districts must meet to qualify. It establishes a process for districts to elect this new formula, including voter approval for tax rate changes, while prohibiting those using the SSF formula from receiving DAA or applying for certain funding types. The bill also updates definitions related to "district support level" and "revenue control limit," removes outdated language, and clarifies new requirements and restrictions associated with the funding formula, ensuring a streamlined approach to school finance.

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
Senate Engrossed 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, 2025-2026, 2026-2027, 2027-2028, 2028-2029, 2029-2030, 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