Official Summary Text
HB2667 - 572R - House Bill Summary
ARIZONA HOUSE OF REPRESENTATIVES
57th
Legislature, 2nd Regular Session
Majority Research Staff
House:
GOV DP 4-3-0-0
HB
2667
: homebuyer assistance programs; requirements
Sponsor:
Representative Carter P, LD 4
House
Engrossed
Overview
Outlines
eligibility requirements for receiving first-time homebuyer or downpayment
assistance offered by Arizona or an Arizona agency.
History
The Arizona
Department of Housing (ADOH) is responsible for establishing policies,
procedures and programs to address affordable housing issues in Arizona,
including housing issues of low-income families, moderate-income families,
housing affordability, special needs populations and decaying housing stock.
ADOH can assist mortgage financing programs established by industrial
development authorities and Arizona political subdivisions.
The United States
Housing Act of 1937 designates ADOH as the state's public housing agency to
accept federal housing assistance monies and participate in the housing assistance
payments program (
A.R.S. � 41-3953
).
ADOH defines a
first-time homebuyer as someone who has not owned real estate in the last three
years. Homebuyers who are at 120% or below the Area Median Income are eligible for
down payment assistance in certain programs (
Arizona Department of Housing
).
Provisions
1.
Requires
that the recipient of any first-time homebuyer or downpayment assistance
program offered Arizona or an Arizona agency must:
a.
be an
Arizona resident for at least two years before applying to a program; and
b.
occupy the
home as their primary residence for at least two years. (Sec. 1)
2.
Forbids a
home from being used as a vacation rental or short-term rental until the
recipient repays all program monies. (Sec. 1)
3.
Prohibits out-of-state investors
from being eligible for any first-time homebuyer or downpayment assistance
program offered by Arizona or an Arizona agency. (Sec. 1)
4.
5.
6.
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Initials ML/MN�������������� HB
2667
8.
2/25/2026� Page 0 House
Engrossed
9.
10.
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Current Bill Text
Read the full stored bill text
HB2667 - 572R - H Ver
House Engrossed
homebuyer assistance
programs; requirements
State of Arizona
House of Representatives
Fifty-seventh Legislature
Second Regular Session
2026
HOUSE BILL 2667
AN
ACT
Amending title 41, chapter 37, article 2,
Arizona Revised Statutes, by adding section 41-3958; relating to housing.
(TEXT OF BILL BEGINS ON NEXT PAGE)
Be it
enacted by the Legislature of the State of Arizona:
Section 1. Title 41, chapter 37, article 2,
Arizona Revised Statutes, is amended by adding section 41-3958, to read:
START_STATUTE
41-3958.
Homebuyer assistance; programs; requirements; prohibition
A. Any first-time homebuyer program
or downpayment assistance program that is offered by this state or an agency in
this state must meet all of the following requirements:
1. The recipient must be a resident
of this state for at least two years before applying to a program.
2. The home must be occupied by the
recipient for at least two years as the recipient's primary residence.
3. The home may not be used as a
vacation rental or short-term rental as defined in section 9-500.39 or 11-269.17
until all program monies are repaid by the recipient.
B. An out-of-state investor is not
eligible for any first-time homebuyer program or downpayment assistance
program that is offered by this state or an agency in this state.
END_STATUTE