This bill proposes several updates to the current statutes regarding expenditure limitations for political subdivisions, community college districts, and school districts in Arizona. Key changes include the adjustment of the "base limit" for school districts from the fiscal year 1979-1980 to the fiscal year 2026-2027, as well as the requirement for the commission to report on estimated populations and expenditure limits before specified dates, which are now clarified to be "before" rather than "prior to." Additionally, the bill updates the terminology from "department of economic security" to "office of economic opportunity" and makes various grammatical adjustments for clarity.

Furthermore, the bill introduces a provision that mandates the economic estimates commission to adjust calculations for the aggregate expenditure limitation for fiscal year 2027-2028 based on the amendments made by this act. It also stipulates that the act will only take effect if the Arizona Constitution is amended by a public vote at the next general election, specifically relating to expenditure limitations, and will apply to fiscal years beginning after June 30, 2027.

Statutes affected:
Introduced Version: 41-563