HB 2583 Summary

• Redirects 55% of proceeds from the sale of abandoned property to the housing trust fund established by section 41-3955, with 40% of that amount required for rural housing development.

• Requires the first $2,000,000 of remaining monies from unclaimed property to be deposited annually in the seriously mentally ill housing trust fund established by section 41-3955.01.

• Deposits the next $24,500,000 of monies each fiscal year in the department of revenue administrative fund established by section 42-1116.01.

• Maintains a separate trust fund with at least $100,000 from which the department can pay claims.