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House panel to consider debt limit increase

An Arizona House committee is scheduled to consider a measure asking voters whether to increase the state’s debt limit while requiring voter approval for debts backed by tax dollars.

The House Appropriations Committee will hear the bill at 9 a.m. on Tuesday.

Arizona’s $350,000 debt limit is a tiny fraction of the state’s budget and hasn’t changed since 1912, when Arizona became a state. If approved by voters, the limit would be set at 5 percent of the state’s total net assessed property value.

The measure is sponsored by Senate President Bob Burns, a Republican from Peoria.

Copyright 2016 The Associated Press. All rights reserved. This material may not be published, broadcast, rewritten, or redistributed.

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