Bill > HB2445

This bill amends Arizona law regarding tax deed sales, primarily focusing on expanding opportunities for affordable housing. The legislation allows county boards of supervisors to sell tax deed properties to local governments (counties, cities, towns, or special taxing districts) specifically for affordable housing purposes. A key innovation is that these local governments can now sell or transfer such properties for less than fair market value to create affordable housing, provided they record a regulatory agreement ensuring the properties remain affordable to low-income persons and families for at least 30 years. This agreement must be filed with the county recorder and include covenants that maintain affordability. The bill also preserves existing provisions for tax deed sales, such as public auctions (live or online), and maintains the current process for distributing sale proceeds to taxing authorities. Additionally, the bill continues to allow contiguous property owners to purchase tax deed properties under certain conditions, such as when the property cannot be separately used for residential purposes. The overall aim appears to be facilitating more accessible housing options for low-income families by providing local governments with flexible mechanisms to acquire and develop tax deed properties.

Budget and Finance

https://apps.azleg.gov/BillStatus/BillOverview/82243