The proposed concurrent resolution seeks to amend Article X, Section 7 of the Arizona Constitution, which pertains to the management of state and school lands. The amendment aims to establish separate permanent funds for various grants made to the state, ensuring that any revenue generated from these lands is deposited into the corresponding permanent fund. It prohibits the transfer of funds between different permanent funds and mandates that all funds be invested in safe, interest-bearing securities. Additionally, a board of investment will be created to oversee the management of these funds, with specific investment guidelines to ensure prudent financial practices.

The resolution also outlines the distribution of earnings from these permanent funds, specifying that for fiscal years 2025-2026 through 2034-2035, the annual distribution will be set at 6.9% of the average monthly market values of the fund over the preceding five years, reverting to 2.5% thereafter. It includes provisions for adjusting distributions based on market performance and emphasizes that the funds should supplement, rather than replace, existing funding for basic state aid. The Secretary of State is tasked with submitting this proposition to voters in a special election scheduled for August 5, 2025.