AZ HB2289

Amends Arizona Revised Statutes Section 44-313 to redirect unclaimed property funds, requiring 55% of monies received to be deposited in the housing trust fund established by section 41-3955.

Mandates that 40% of the housing trust fund deposits must be used exclusively for development of eligible and viable housing in rural areas.

Requires the first $2 million annually from unclaimed property to be deposited in 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 for deposits of unclaimed shares and dividends to the permanent state school fund, victim restitution payments to the victim compensation fund, and retention of $100,000 in a separate trust fund for claims.