AZ SB1723

Amends Arizona law to redirect 55% of unclaimed property monies to the housing trust fund established under section 41-3955, with 40% of that amount designated exclusively for rural housing development.

Maintains the first $2,000,000 in annual unclaimed property deposits to the seriously mentally ill housing trust fund established under section 41-3955.01.

Allocates up to $24,500,000 annually from unclaimed property monies to the department of revenue administrative fund.

Requires the department to retain at least $100,000 in a separate trust fund to pay unclaimed property claims.

Preserves existing provisions requiring deposit of unclaimed corporate shares and dividends into the permanent state school fund and unclaimed victim restitution payments into the victim compensation and assistance fund.