ARIZONA HOUSE OF REPRESENTATIVES

Fifty-sixth Legislature

First Regular Session

 

HB 2634: housing trust fund; donations; form

Sponsor: Representative Bravo, LD 26

Committee on Commerce

Overview

Provides a means for buyers and sellers of real estate to donate to the Housing Trust Fund.

History

The Housing Trust Fund consists of monies received from an annual unclaimed property deposit of $2,500,000, additionally from monies received from loan repayments and earn interest.  On approval of the Department of Housing, Fund monies are spent for developing projects and programs connected with providing housing opportunities for low- and moderate-income households and for housing affordability programs. A portion of the monies must be used exclusively for housing in rural areas. Further, Fund monies may be spent on constructing or renovating facilities and on housing assistance, including support services, for person who have been determined to be seriously mentally ill and to be chronically resistance to treatment (A.R.S. 41-3955). 

Provisions

1.   ☐ Prop 105 (45 votes) ☐ Prop 108 (40 votes) ☐ Emergency (40 votes) ☐ Fiscal NoteDirects a title insurer to provide a form to real estate buyers and sellers that would allow them to donate monies to the Housing Trust Fund. (Sec. 1)

2.   Makes a clarifying change. (Sec. 2)

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6.                     HB 2634

7.   Initials PRB           Page 0 Commerce

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