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 / Modified may 1, 2010 2:25 a.m.

Senate Concurrent Resolution 1060 - State Debt

April 2, 2010 | AZPM
by Christopher Conover

Senate Concurrent Resolution 1060 changes how the state deals with debt. Currently, Arizona’s constitution sets a $350,000 limit on how much debt the state can carry. However, due to some accounting tricks, state lawmakers have been able to get around that limit. SCR 1060 would remove that $350,000 limit but it would not allow the state to carry more debt than 5% of the net assessed property value of the state. Also, the proposed constitutional amendment would require that state lawmakers identify a funding stream to repay any new debt and the proposal specifies that that funding stream cannot be the General Fund. Voters would have to approve the change.

On April 1, 2010 the full Senate approved SCR 1060 on an 18-8 vote.

Pima County Senate Delegation Vote:

Paula Aboud (D) – No
Frank Antenori (R) – Yes
Jorge Luis Garcia (D) – Did Not Vote Linda Lopez (D) – No
Al Melvin (R) – Yes

Full Senate Vote on SCR 1060

MORE: Arizona, Politics
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