Arizona SB1590 establishes a housing trust fund and modifies the deposit of unclaimed property funds.
Arizona SB1590 amends the deposit of unclaimed property funds, directing fifty-five percent to a housing trust fund, with forty percent specifically for rural housing development. The bill also mandates the deposit of unclaimed shares and dividends from corporations, and victim restitution payments, into designated funds. The Arizona Department of Revenue is tasked with recording and making public the details of unclaimed property holders.
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