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HB2711 • 2026

housing trust fund; unclaimed property

HB2711 - housing trust fund; unclaimed property

Housing
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

Checked against official source text during the last sync.

Housing Trust Fund; Unclaimed Property

This bill changes how unclaimed property money is deposited, with a larger portion going to the housing trust fund.

What This Bill Does

  • Changes the way money from unclaimed property is deposited into different state funds.
  • Requires that fifty-five percent of unclaimed property money goes into the housing trust fund.
  • Specifies that forty percent of the money in the housing trust fund must be used for building homes in rural areas.
  • Sets aside two million dollars each year to go into a special fund for seriously mentally ill people's housing.

Who It Names or Affects

  • People who have unclaimed property in Arizona.
  • The state government and agencies that manage funds like the housing trust fund.

Terms To Know

Unclaimed Property
Money or assets that belong to someone but has not been claimed by its owner for a long time.
Housing Trust Fund
A fund used by the government to help build and maintain affordable housing.

Limits and Unknowns

  • The bill does not specify how much money will be in the unclaimed property account.
  • It is unclear how this change might affect other state funds that receive unclaimed property money.

Bill History

  1. 2026-01-21 House

    House second read

  2. 2026-01-20 House

    House Rules: None

  3. 2026-01-20 House

    House Appropriations: None

  4. 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