HB 2634
Initials PRB Page 1 Caucus & COW
ARIZONA HOUSE OF REPRESENTATIVES
Fifty-sixth Legislature
First Regular Session
House: COM DP 8-2-0-0
HB 2634: housing trust fund; donations; form
Sponsor: Representative Bravo, LD 26
Caucus & COW
Overview
Provides a means for buyers and sellers of real estate to donate to the Housing Trust Fund.
History
The Housing Trust Fund consists of monies received from an annual unclaimed property deposit
of $2,500,000, additionally from monies received from loan repayments and earn interest. On
approval of the Department of Housing, Fund monies are spent for developing projects and
programs connected with providing housing opportunities for low- and moderate-income
households and for housing affordability programs. A portion of the monies must be used
exclusively for housing in rural areas. Further, Fund monies may be spent on constructing or
renovating facilities and on housing assistance, including support services, for person who have
been determined to be seriously mentally ill and to be chronically resistance to treatment (A.R.S.
41-3955).
Provisions
1. Directs a title insurer to provide a form to real estate buyers and sellers that would allow them
to donate monies to the Housing Trust Fund. (Sec. 1)
2. Permits the Housing Trust Fund to receive donated monies. (Sec. 2)
3. Makes a clarifying change. (Sec. 2)
☐ Prop 105 (45 votes) ☐ Prop 108 (40 votes) ☐ Emergency (40 votes) ☐ Fiscal Note