HCR2001 is a resolution that allows Arizona school districts to exceed the aggregate expenditure limitation (AEL) by $1,385,809,642 for the fiscal year 2023. The AEL was established in 1980 when Arizona voters approved Proposition 109, amending the state Constitution to create a spending limit for all school districts based on a formula that adjusts fiscal year 1980 local revenue expenditures to account for changes in student population and cost of living. The Economic Estimates Commission (EEC) is tasked with determining the AEL annually, and for FY 2023, the calculated AEL is $6,402,335,366, while the projected expenditures are $7,788,145,008, thus exceeding the limit by the aforementioned amount.

The resolution specifies that the authorization for school districts to spend in excess of the AEL is contingent upon the approval of at least two-thirds of the membership of both the House of Representatives and the Senate by March 1, 2023. If the Legislature does not authorize the excess expenditures, the State Board of Education (SBE) must inform each school district of the necessary reductions to meet the AEL. The resolution was passed by the House on February 7, 2023, by the Senate on February 8, 2023, and filed with the Secretary of State on February 9, 2023.