ARIZONA STATE SENATE

 

LIAM MAHER

LEGISLATIVE RESEARCH ANALYST

APPROPRIATIONS COMMITTEE

Telephone: (602) 926-3171

RESEARCH STAFF

 

 

TO: MEMBERS OF THE SENATE

APPROPRIATIONS COMMITTEE

DATE: March 25, 2022

SUBJECT: Strike everything amendment to H.B. 2528, relating to housing trust fund; federal monies


 


Purpose

Appropriates $100,000,000 from the monies allocated to Arizona by the American Rescue Plan Act of 2021 (ARPA) in FY 2023 to the Housing Trust Fund (HTF).

Background

The HTF is administered by the Director of the Arizona Department of Housing and consists of monies from the sale of unclaimed property, monies transferred from the Arizona Industrial Development Authority and investment earnings. Monies in the HTF may be spent on constructing or renovating facilities and on housing assistance, including support services for persons who have been determined to be seriously mentally ill and to be chronically resistant to treatment (A.R.S. 41-3955). The HTF has an estimated ending balance of $44,650,200 in FY 2022 (JLBC).

On March 11, 2021, ARPA was enacted to provide states with financial assistance. As of December 23, 2021, Arizona has received $2,100,000,000 of the total $4,200,000,000 ARPA allocation (JLBC).

There is no anticipated fiscal impact to the state General Fund associated with this legislation.

Provisions

1.   Appropriates $100,000,000 from the monies allocated to Arizona by ARPA in FY 2023 to the HTF.

2.   Becomes effective on the general effective date.