Public Debt, Revenue, and Taxation
From Ballotpedia
ARIZONA ARTICLE IX.
PUBLIC DEBT, REVENUE, AND TAXATION
ยง 23. Expenditures required by initiative or referendum: funding source Section 23.
- A. An initiative or referendum measure that proposes a mandatory expenditure of state revenues for any purpose, establishes a fund for any specific purpose or allocates funding for any specific purpose must also provide for an increased source of revenues sufficient to cover the entire immediate and future costs of the proposal. The increased revenues may not be derived from the state general fund or reduce or cause a reduction in general fund revenues.
- B. If the identified revenue source provided pursuant to subsection A in any fiscal year fails to fund the entire mandated expenditure for that fiscal year, the legislature may reduce the expenditure of state revenues for that purpose in that fiscal year to the amount of funding supplied by the identified revenue source.
