AZ SB1541

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

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

Deposits first $2,000,000 of remaining monies each fiscal year into the seriously mentally ill housing trust fund established by Section 41-3955.01.

Directs next $24,500,000 of monies each fiscal year to the department of revenue administrative fund established by Section 42-1116.01.

Maintains separate trust fund of at least $100,000 for the department to pay claims on unclaimed property.