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.