AZ HB2399

Amends section 44-313 of the Arizona Revised Statutes to redirect unclaimed property funds to the housing trust fund.

Deposits 55 percent of unclaimed property monies into the housing trust fund established by section 41-3955, with 40 percent of that amount reserved exclusively for housing development in rural areas.

Deposits the first $2 million in unclaimed property monies each fiscal year into the seriously mentally ill housing trust fund established by section 41-3955.01.

Deposits the next $24.5 million in unclaimed property monies each fiscal year into the department of revenue administrative fund established by section 42-1116.01.

Retains at least $100,000 in a separate trust fund for the department to pay claims on unclaimed property.