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ARIZONA HOUSE OF REPRESENTATIVES57th Legislature, 2nd Regular Session |
House: GOV DP 4-3-0-0 |
HB 2667: homebuyer assistance programs; requirements
Sponsor: Representative Carter P, LD 4
Caucus & COW
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)
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7. Initials ML/MN HB 2667
8. 2/11/2026 Page 0 Caucus & COW
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