AZ HB2516

Establishes a new state treasurer administrative fund (Section 41-180) consisting of monies from unclaimed property, to be used solely for administrative costs of the state treasurer's office.

Repeals Section 42-1116.01 (department of revenue administrative fund) and transfers all unexpended monies from that fund to the newly created state treasurer administrative fund.

Transfers responsibility for unclaimed property administration from the Department of Revenue to the State Treasurer by replacing all references to "department" and "director" with "state treasurer" throughout Arizona Revised Statutes Chapter 44.

Allocates unclaimed property monies as follows: first $2,000,000 to seriously mentally ill housing trust fund, next $2,500,000 to housing trust fund, next $24,500,000 to state treasurer administrative fund, with remaining monies to state general fund.

Requires legislative council staff to prepare conforming legislation to the Arizona Revised Statutes reflecting these changes for consideration in the 2026 legislative session.