AZ SB1704

Requires the Department of Veterans' Services to annually transfer 15% of all donations received by the department to a new subaccount in the state homes for veterans trust fund.

Establishes a separate subaccount in the state homes for veterans trust fund for monies transferred from the veterans' donations fund, to be used for supporting resident needs, equipment purchases, facility improvements, and maintenance at state nursing and domiciliary homes for veterans.

Authorizes the department to use up to $150,000 annually from the veterans' donations fund to administer donation-related activities and authorizes two full-time equivalent positions for this purpose.

Allows investment earnings from monies in the state homes for veterans trust fund and its subaccount to be credited back to the fund, with monies exempt from lapsing at fiscal year end.