technical correction; housing trust fund
Take action
Record your position on this measure.
Create an account to record your position, submit testimony, or contact your legislator.
Progress
Where this bill stands in the legislative process.
- Introduced
- Passed House
- Passed Senate
- To Governor
- Became Law
Overview
This bill makes a technical correction to Arizona Revised Statutes regarding the Housing Trust Fund. It clarifies the sources of funds for the fund, including unclaimed property and investment earnings, and outlines the priorities for spending those funds on housing projects, particularly for low- and moderate-income households and those experiencing homelessness. The bill also requires the department to report annually on the fund's activities and expenditures.
Key provisions
- The Housing Trust Fund is established and administered by the director.
- Funds for the trust come from unclaimed property, state treasurer transfers, and investment earnings.
- Priority spending is given to emergency shelters, transitional housing, and housing for individuals with serious mental illness.
- Stakeholder feedback can be used for spending after the initial four-month priority period.
- The department must report annually on the fund's activities and expenditures.
- Monies in the fund are exempt from appropriation lapsing rules.
- A small percentage of the fund can be used for administrative costs.
- Local jurisdictions must be notified and consulted before construction projects are planned.
Who is affected
- Low- and moderate-income households
- Individuals experiencing homelessness
- Housing developers
- State government agencies (specifically the Department)
Bill text
Read the latest version inline or switch to a previous version.
Text extraction is in progress. View the official source.
Sponsors
Official sponsors from legislative records.
1 on record
Primary sponsor
Arguments
Reasons offered for and against this legislation.
Arguments in favor
No arguments in favor have been submitted.
Submit yoursArguments opposed
No arguments opposed have been submitted.
Submit yours