SB1278 is a bill that amends Section 41-3955 of the Arizona Revised Statutes, concerning the Arizona Department of Housing (ADOH). The bill requires ADOH to include in its annual report to the Legislature a summary of projects and programs that received funding exclusively for housing in rural areas. This is in addition to the current requirement of reporting on the status of the Housing Trust Fund, including the summary of facilities funded, their costs, geographic locations, and the number of individuals benefiting from them.

The bill also makes technical changes to the existing law, such as clarifying that monies from unclaimed property are deposited into the Housing Trust Fund and that a portion of the fund monies must be used exclusively for housing in rural areas. The bill is set to become effective on the general effective date, with no anticipated fiscal impact to the state General Fund.

Statutes affected:
Introduced Version: 41-3955
Senate Engrossed Version: 41-3955