AZ HB2557

Amends Arizona Revised Statutes section 44-313 to redirect unclaimed property funds, requiring 55% of all monies received to be deposited in the housing trust fund established by section 41-3955.

Mandates that 40% of monies deposited in the housing trust fund must be used exclusively for developing eligible and viable housing in rural areas.

Maintains $2,000,000 annual deposit from unclaimed property proceeds into the seriously mentally ill housing trust fund established by section 41-3955.01.

Allocates up to $24,500,000 annually from unclaimed property monies to the department of revenue administrative fund established by section 42-1116.01.

Continues existing requirements for depositing unclaimed shares and dividends into the permanent state school fund and victim restitution payments into the victim compensation and assistance fund.