SB1495 is a bill that revises the funding formula for Arizona charter schools and provides an option for school districts to adopt a new state student funding (SSF) formula. The bill eliminates the previous charter additional assistance (CAA) amounts and sets specific per-student state additional assistance (SAA) amounts. It allows school districts to opt into the SSF formula if they meet certain conditions, such as not having an override in place and meeting debt service payment criteria. The bill also adjusts the funding for empowerment scholarship accounts to 90 percent of the SSF formula amount and makes various technical changes. School districts can revert to the standard formula through an election process.

The bill also updates the titles of certain legislative committee chairs and sets new qualifying tax rates for school districts for the tax year 2023. It increases the tax rates for districts using the SSF formula and establishes that the legislature cannot adopt a state budget with qualifying tax rates above the truth in taxation rates without a two-thirds roll call vote in each house. If not approved, the rates for the following fiscal year will default to the truth in taxation rates.

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, 2020-2021, 2021-2022, 2022-2023, 15-944, 15-765, 15-751, 15-752, 15-753, 15-501, 15-771, 15-945, 15-943.01, 15-976, 15-825, 15-1204, 15-905, 15-825.01, 15-974, 15-910.01, 15-964, 15-447, 15-994, 15-255, 15-904, 15-766, 15-767, 35-173, 15-972, 15-907, 42-16213, 42-17151, 15-2403, 15-2401, 28-9551, 15-802, 35-190, 35-113
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, 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, 2020-2021, 2021-2022, 2022-2023, 15-944, 15-765, 15-751, 15-752, 15-753, 15-501, 15-771, 15-945, 15-943.01, 15-976, 15-825, 15-1204, 15-905, 15-825.01, 15-974, 15-910.01, 15-964, 15-447, 15-994, 15-255, 15-904, 15-766, 15-767, 35-173, 15-972, 15-907, 42-16213, 42-17151, 15-2403, 15-2401, 28-9551, 15-802, 35-190, 35-113