HB2667 establishes requirements for first-time homebuyer programs in Arizona.

HB2667 amends Arizona law to add requirements for first-time homebuyer programs. These programs must ensure that recipients are Arizona residents for at least two years before applying and that the purchased home is occupied as their primary residence for at least two years. Additionally, the home cannot be used as a vacation or short-term rental until all program funds are repaid. The bill also prohibits out-of-state investors from participating in these programs.

HB2667 establishes requirements for first-time homebuyer programs in Arizona.

HB2667 amends Arizona law to add requirements for first-time homebuyer programs. These programs must ensure that recipients are Arizona residents for at least two years before applying and that the purchased home is occupied as their primary residence for at least two years. Additionally, the home cannot be used as a vacation or short-term rental until all program funds are repaid. The bill also prohibits out-of-state investors from participating in these programs.