Bill > HB2714

This bill amends existing Arizona law regarding the sale of real property held by the state under a tax deed, which is a legal document transferring ownership of property to the state due to unpaid taxes. The key change allows the board of supervisors to sell such property to a county, city, town, or special taxing district for purposes related to "affordable housing for low-income persons and families," as defined by the U.S. Department of Housing and Urban Development (HUD). If a local government acquires property for this purpose and deems it in their best interest, they can then sell, lease, or otherwise dispose of it for less than its market value and without a public auction, provided a regulatory agreement is recorded. This agreement must ensure that the housing remains affordable to low-income individuals and families for at least thirty years. The bill also maintains existing provisions for selling tax-deeded property to contiguous landowners or homeowners' associations under specific conditions, and allows for over-the-counter sales of unsold properties not eligible for these special provisions.

Budget and Finance

https://apps.azleg.gov/BillStatus/BillOverview/84555