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Arizona voters will have an important vote on May 17 to determine the increase in long term funding for Arizona Schools. Proposition 123 is a referendum that will ask Arizona voters on Tuesday, May 17 to consider an increase to K-12 school funding. If the Proposition is passed, it will infuse $3.5 billion over 10 years into the K-12 education system. Some of the funding will be released to schools immediately if the PROP 123 is passed.
The majority of funding will come from the increased payout from the State Land Trust (from 2.5% to 6.9%) via Proposition 123. An additional $625 million will be appropriated from the state’s general fund for K-12 education ($50 million for five years and $75 million for the next five years). The purpose of the PROP 123 is the Governor’s plan to settle the lawsuit between the State and Arizona schools over lack of mandatory inflationary funding increases over the past years.
/s/ Jeff Gregorich
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