AZ HB2855

Establishes the Home Buyer Assistance Program administered by the Arizona Finance Authority to provide low-interest mortgage loans with zero down payment and closing cost assistance options for eligible home buyers.

Limits eligibility to individuals continuously employed for the preceding five years as law enforcement officers, firefighters, or teachers (including certificated teachers and instructors at public, charter, accommodation, or private schools).

Creates the Home Buyer Assistance Program Fund funded by legislative appropriations, loan repayments, and earned interest, with monies continuously appropriated.

Requires purchased homes to be occupied as the buyer's principal residence and prohibits eligible buyers from owning other residential real estate at the time of the loan.

Mandates annual reporting by October 1 to legislative leadership and budget offices detailing program revenues, expenditures, activities, and improvement recommendations.