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AZ SB1465

Bill

Status

Introduced

1/31/2023

Primary Sponsor

Thomas Shope

Click for details

Origin

Senate

Fifty-sixth Legislature - First Regular Session (2023)

AI Summary

  • Redirects all remaining state lottery fund monies (after existing allocations) to the housing trust fund established by section 41-3955, rather than the state general fund.

  • Adds monies from the Arizona finance authority operations fund to be transferred to the housing trust fund at fiscal year-end instead of the economic development fund.

  • Increases unclaimed property deposits to the housing trust fund from $2,500,000 to $2,500,000 annually, plus 75 percent of remaining unclaimed property monies each fiscal year.

  • Modifies the housing trust fund statute to clarify its composition includes deposits from state lottery funds and specifies rural housing shall receive a portion of fund monies.

Legislative Description

Housing trust fund; deposit; appropriation

State Lottery Fund

Last Action

Senate read second time

2/1/2023

Committee Referrals

Rules1/31/2023
Commerce1/31/2023
Appropriations1/31/2023

Full Bill Text

No bill text available