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Special election for Prop 123 and 124 Tuesday

Posted at 7:12 PM, May 16, 2016
and last updated 2016-05-17 20:37:23-04

Voters can weigh in on two measures regarding school funding and public pensions Tuesday. 

Proposition 123 and Proposition 124 will be on the ballots in the special election. 

Prop 123 would increase funding for kindergarten through 12th grade education by $3.5 billion.

Opponents of the proposition say it's deceptive and in the long run would end up hurting the state. 

If passed Prop 123 would change Arizona's constitution. Money would be taken out of the state's land trust and put into the education system.

The state land trust is a fund that was set up when Arizona first became a state as a way to pay for K-12 education.

Supporters say this is a great way to use money that's been just sitting on the sidelines.

However, opponents argue that it will deplete the state's land trust fund and is not a permanent solution for school funding.

Proposition 124 is a proposal to change the state's public safety personal retirement system.

It would replace the current system with a cost of living adjustment that follows inflation capped at 2 percent.

Supporters say it is the best way to sustain the public pension system for fire firefighters and police while protecting taxpayers.

It would reportedly save about $1.5 billion over the next thirty years.

No one has filed any formal arguments against Prop 124.