AZ HB2610

Amends section 42-11133 of Arizona Revised Statutes regarding property tax exemptions for affordable housing projects.

Removes the 200-unit cap that previously limited property tax exemptions to affordable rental housing developments.

Maintains existing exemption requirements including ownership by nonprofit organizations or single-purpose entities, financing through tax-exempt bonds or government loans/grants, and enforceable rent restrictions.

Requires property owners to certify that tax savings are used to maintain affordability or reduce rents for low-income households occupants.

Effective June 8, 2022.