ARIZONA HOUSE OF REPRESENTATIVES

Fifty-fifth Legislature

First Regular Session

HB 2489: appropriation; affordable housing

Sponsor: Representative Chávez, LD 29

Committee on Appropriations

Overview

Appropriates $25,000,000 from the state General Fund (GF) in FY 2022 to the Housing Trust Fund (Fund).

History

The Director (Director) of the Arizona Department of Housing (ADOH) is required to administer the statutorily established Fund. The Fund consists of monies from unclaimed property, unencumbered monies in excess of the Industrial Development Authority's operating costs generated from single family mortgage programs and investment earnings. Monies in the fund are exempt from lapsing.

Fund monies must be spent upon approval of ADOH for developing projects and programs connected with providing housing opportunities for low and moderate income households and for housing affordability programs. A portion of fund monies must be used exclusively for housing in rural areas. When approving the expenditure of monies, the Director must give priority to funding projects that provide for operating, constructing or renovating facilities for housing for low-income families and that provide housing and shelter to families that have children.

Fund monies can be spent on constructing or renovating facilities and on housing assistance, including support services, for people who have been determined seriously mentally ill and chronically resistant to treatment (A.R.S. § 41-3955).

Provisions

1. Appropriates $25,000,000 from the state GF in FY 2022 to the Fund. (Sec. 1)

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5. HB 2489

6. Initials EB/IR Page 0 Appropriations

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