Assigned to NRAE                                                                                                     AS PASSED BY THE SENATE

 

 

 

ARIZONA STATE SENATE

Phoenix, Arizona

 

FINAL REVISED

FACT SHEET FOR S.C.R. 1005

 

trust land proceeds and income

(Now: state trust lands; education 2000)

 

Purpose:

 

Subjects to voter approval codification of several provisions from the “Education 2000” public school funding legislation relating to the distribution of earnings from the permanent state school fund.

 

Background:

 

In 2000, legislation known as “Education 2000” was adopted proposing new accountability measures and additional funds for school districts, charter schools, community colleges and universities (Laws 2000, Fifth Special Session, Chapter 1).  The measure gained voter approval in November of 2000 in the form of Proposition 301.  Some of the provisions of companion legislation to Proposition 301 specified that funds received from earnings on the permanent state school fund and other annual expendable earnings on state trust land above the FY 2000-2001 statutorily prescribed level be used for state aid to schools. 

 

S.C.R. 1005 subjects these provisions to voter approval for the purpose of providing Proposition 105 protection for these monies.  S.C.R. 1005 further clarifies that these monies are intended to supplement, rather than supplant, existing statutory funding obligations for public schools.

 

There is an undetermined fiscal impact to the state general fund associated with this resolution.

 

Provisions:

 

1.      Clarifies that interest paid on installment sales of state trust land is included in the funding formula as expendable earnings generated from state trust land.

 

2.      Clarifies that, supplemental to state general fund monies, earnings from the permanent state school fund and from rent on state trust land leases and interest paid on installment sales of state trust land shall go to the classroom site fund.

 

3.      Contains a legislative intent section.

 

4.      Makes technical and conforming changes.

 

5.      Requires the Secretary of  State to submit this proposition to the voters at the next general election.

 

Senate Action                                                               House Action

 

NRAE              3/9/01     DPA    5-0-3-0                     ED                   4/2/01   DPA/SE   10-0-0-0-0

3rd Read           3/26/01               20-10                        3rd Read           4/12/01                  47-10-3-0

Final Read        4/19/01               22-8                         

 

 

Transmitted to the Secretary of  State 4/19/01

 

Prepared by Senate Staff

May 17, 2001