Proposed by initiative petition related to education funding.
Descriptive title:
The law would impose a 3.5% tax surcharge on taxable annual income over $250,000 for single persons or married persons filing separately, or $500,000 for married persons filing jointly or heads of households, to increase funding for public education.
A “YES” vote shall have the effect of imposing a 3.5% income tax surcharge, in addition to existing income tax rates, on taxable annual income over $250,000 for single persons or married persons filing separately, or $500,000 for married persons filing jointly or heads of households, to provide additional funds for public education; creating a new fund to direct the additional revenue to hiring and increasing salaries for teachers and other non-administrative support personnel, career training and higher education pathway programs for high school students, and the Arizona Teachers Academy; and increasing the dollar amount of scholarships available through the Arizona Teachers Academy.
A “NO” vote shall have the effect of retaining existing law on income tax rates and funding for public education.
Certification and text:
https://apps.arizona.vote/electioninfo/assets/18/0/BallotMeasures/I-31-2020%20Certification%20&%20Text.pdf
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