homebuyer assistance programs; requirements

Plain English Breakdown

Using official source text because the generated explanation was unavailable or could not be confirmed against the official bill text.

homebuyer assistance programs; requirements

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.

What This Bill Does

• 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.

Limits and Unknowns

• This entry is temporarily using official source text because the generated explanation could not be confirmed against the official bill text during the last sync.

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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7.

Initials ML/MN�������������� HB
2667

8.

2/25/2026� Page 0 House
Engrossed

9.

10.

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Current 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