Bill > HB2667

This bill establishes new requirements for any first-time homebuyer or downpayment assistance programs offered by the state of Arizona or its agencies, aiming to ensure these programs benefit state residents and promote stable homeownership. Specifically, recipients must have been residents of Arizona for at least two years prior to applying and must live in the purchased home as their primary residence for at least two years. Furthermore, the home cannot be used as a vacation or short-term rental, as defined by state law, until all program funds are fully repaid by the homeowner. The bill also explicitly prohibits out-of-state investors from participating in these state-offered homebuyer assistance programs.

Government Affairs

https://apps.azleg.gov/BillStatus/BillOverview/84483