AZ HB2224

Amends Section 44-313 of Arizona Revised Statutes to change how unclaimed property funds are deposited among state accounts.

Directs 55% of monies received from unclaimed property to the housing trust fund established by section 41-3955, with 40% of that amount reserved exclusively for housing development in rural areas.

Allocates the first $2 million annually from remaining funds to the seriously mentally ill housing trust fund established by section 41-3955.01.

Directs the next $24.5 million annually to the department of revenue administrative fund established by section 42-1116.01.

Maintains existing provisions requiring the department to deposit unclaimed shares and dividends in the permanent state school fund, unclaimed victim restitution in the victim compensation fund, and retain $100,000 in a separate trust fund for claim payments.