HCR2062 is a resolution aimed at reforming the process for bond issuance elections and authorizing indebtedness in Arizona. It stipulates that such elections can only take place on the first Tuesday after the first Monday in November during even-numbered years. The resolution increases the required percentage of qualified electors needed to sign a petition for calling an election from 15% to 25%. Additionally, it mandates that for a bond or indebtedness to be approved, a majority of voters must support it, and the voter turnout for that issue must reach at least 60%. The resolution also includes provisions that postpone any bond elections scheduled for 2025 until 2026 and exempts charter cities from these new regulations.

The resolution seeks to clarify existing laws regarding bond elections by establishing specific guidelines for election orders, maximum bond amounts, purposes, and interest rates. By consolidating election dates, it aims to enhance voter participation and reduce costs for taxpayers while preempting any local laws that may conflict with these new requirements. The Secretary of State is responsible for presenting this proposition to voters at the next general election, and the measure will only take effect if it receives approval from the electorate and is proclaimed by the Governor.

Statutes affected:
Introduced Version: 9-524, 15-1465, 16-204, 35-452, 35-453, 35-455, 35-451
House Engrossed Version: 9-524, 15-1465, 16-204, 35-452, 35-453, 35-455, 35-451