AZ SB1320

Amends section 44-313 of Arizona Revised Statutes regarding deposit of unclaimed property monies held by the state.

Redirects 55% of unclaimed property monies to the housing trust fund established by section 41-3955, with 40% of that amount designated exclusively for eligible and viable housing development in rural areas.

Maintains deposit of the first $2,000,000 annually in the seriously mentally ill housing trust fund established by section 41-3955.01.

Continues deposit of up to $24,500,000 annually in the department of revenue administrative fund established by section 42-1116.01.

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