HB2711 • 2026

housing trust fund; unclaimed property

HB2711 - housing trust fund; unclaimed property

Crime Education Housing Taxes

Passed Legislature

This bill passed both chambers and reached final enrollment, even if later executive action is not shown here.

Sponsor: Betty J Villegas, Anna Abeytia, Cesar Aguilar, Lorena Austin, Junelle Cavero, Janeen Connolly, Patty Contreras, Quantá Crews, Oscar De Los Santos, Brian Garcia, Nancy Gutierrez, Sarah Liguori, Elda Luna-Nájera, Aaron Márquez, Christopher Mathis, Mae Peshlakai, Mariana Sandoval, Stephanie Simacek, Stephanie Stahl Hamilton, Stacey Travers
Last action: 2026-01-21
Official status: House second read
Effective date: Not listed

Plain English Breakdown

The bill amends section 44-313 but does not define 'eligible and viable housing' within this text; those definitions exist in other statutes.

HB2711: Changing How Unclaimed Property Money Is Spent

This bill changes Arizona law to send specific amounts of unclaimed property money into housing funds, a mental health fund, and the state revenue department.

What This Bill Does

Requires fifty-five percent of collected monies from unclaimed property to go into the Housing Trust Fund.
Mandates that forty percent of the money deposited in the Housing Trust Fund be used exclusively for developing eligible and viable housing in rural areas.
Sets aside $2 million each fiscal year from remaining monies for the Seriously Mentally Ill Housing Trust Fund after other allocations are made.
Directs an additional $2.5 million to the general Housing Trust Fund after previous deposits are completed.
Sends up to $24.5 million of remaining monies into the Department of Revenue Administrative Fund each fiscal year.
Keeps unclaimed shares and dividends from Arizona corporations in the Permanent State School Fund.
Places unclaimed victim restitution payments into a fund that helps crime victims.

Who It Names or Affects

The state agency responsible for managing unclaimed property
Recipients of funds in housing trust accounts and mental health programs
Arizona corporations with unclaimed shares or dividends
Victims of crime who are owed restitution payments

Terms To Know

Unclaimed property: Money, bank accounts, or other assets that owners have not claimed for a long time.
Housing Trust Fund: A special state account used to pay for building and fixing homes.

Limits and Unknowns

The bill text lists specific dollar amounts but does not explain what happens if there is less money collected than required.
The effective date of this law is not listed in the provided source material.
The exact rules for defining 'eligible and viable housing' are found in other laws, not in this document.

Bill History

2026-01-21 House
House second read
2026-01-20 House
House Rules: None
2026-01-20 House
House Appropriations: None
2026-01-20 House
House first read

Official Summary Text

HB2711 - housing trust fund; unclaimed property

Current Bill Text

Read the full stored bill text

HB2711 - 572R - I Ver

REFERENCE TITLE:
housing trust fund; unclaimed property

State of Arizona

House of Representatives

Fifty-seventh Legislature

Second Regular Session

2026

HB 2711

Introduced by

Representatives
Villegas: Abeytia, Aguilar, Austin, Cavero, Connolly, Contreras P, Crews, De
Los Santos, Garcia, Gutierrez, Liguori, Luna-N�jera, M�rquez, Mathis,
Peshlakai, Sandoval, Simacek, Stahl Hamilton, Travers

AN
ACT

amending section 44-313, Arizona
Revised Statutes; relating to unclaimed property.

(TEXT OF BILL BEGINS ON NEXT PAGE)

Be it enacted by the Legislature of the State of Arizona:

Section 1. Section 44-313, Arizona Revised
Statutes, is amended to read:

START_STATUTE
44-313.

Deposit of monies

A. Except as otherwise provided in this section or
section 44-314, the department shall deposit, pursuant to sections 35-146
and 35-147, in the state general fund all monies received pursuant to
this chapter, including the proceeds from the sale of abandoned property
pursuant to section 44-312, except that:

1. Fifty-five percent of the
monies shall be deposited in the housing trust fund established by section 41-3955. Forty
percent of the monies deposited pursuant to this paragraph must be used
exclusively for developing eligible and viable housing in rural areas.

1.

2. After
the deposit of monies made pursuant to paragraph 1 of this subsection,
the
first
two million dollars

$2,000,000

of the monies shall be deposited each fiscal year in the seriously mentally ill
housing trust fund established by section 41-3955.01.

2. The second two million five hundred
thousand dollars of the monies shall be deposited in the housing trust fund
established by section 41-3955.

3. The next
twenty-four million
five hundred thousand dollars

$24,500,000
of the
monies shall be deposited each fiscal year in the department of revenue
administrative fund established by section 42-1116.01.

B. The department shall deposit monies from
unclaimed shares and dividends of any corporation incorporated under the laws
of this state in the permanent state school fund pursuant to article XI,
section 8, Constitution of Arizona.

C. The department shall deposit monies from
unclaimed victim restitution payments in the victim compensation and assistance
fund established by section 41-2407 for the purpose of establishing,
maintaining and supporting programs that compensate and assist victims of
crime.

D. The department shall retain in a separate trust
fund at least
one hundred thousand dollars

$100,000

from which the department shall pay claims.

E. Before making the deposit, the department shall
record the name and last known address of each person who appears from the
holders' reports to be entitled to the property and the name and last known
address of each insured person or annuitant and beneficiary. The
department shall also record the policy or contract number of each policy or
contract of an insurance company that is listed in the report, the name of the
company and the amount due.� The department shall make the record available for
public inspection during reasonable business hours.
END_STATUTE