This concurrent resolution proposes an amendment to Article IX, Section 21 of the Arizona Constitution, specifically addressing expenditure limitations for community college districts. The amendment mandates that the Economic Estimates Commission will determine and publish the expenditure limitations for each community college district before April 1 of each year, based on adjustments reflecting changes in student population and the cost of living. The governing boards of community college districts will be prohibited from authorizing expenditures exceeding these limitations unless permitted by law.

Additionally, the resolution outlines definitions related to the amendment, including "cost of living," "expenditure," and "local revenues." It specifies that the legislature will establish a uniform reporting system for compliance and impose sanctions for non-compliance. The proposed changes will take effect for fiscal years beginning after June 30, 2027, and the Secretary of State is tasked with submitting this proposition to voters at the next general election.