AZ SB1554

Establishes the Arizona Rental Assistance Fund to provide up to three months of rental assistance payments to tenants with rent delinquencies or anticipated delinquencies, with payments made directly to landlords.

Limits tenants to receiving rental assistance once per rolling 12-month period and allows assistance to cover both past-due and prospective rent payments.

Prohibits landlords who accept rental assistance from evicting tenants for the same month the assistance is received or any subsequent months covered by the assistance payment.

Funds the Arizona Rental Assistance Fund with an annual transfer of 10 percent of the state's portion of transaction privilege tax revenue from the prime contracting classification, plus gifts and donations.

Establishes a five-day approval timeline for the Department of Economic Security to determine rental assistance eligibility after receiving applications transmitted by the Department of Housing.