Arizona Fifty-fifth Legislature - Second Regular Session Status: In Committee

SB 1597 — home buyer assistance program

Last action — Senate Second Reading

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  1. ✓
    Introduced
  2. 2
    In Committee
  3. 3
    Passed Senate
  4. 4
    Passed House
  5. 5
    To Executive
  6. 6
    Enacted

This bill died with Fifty-fifth Legislature - Second Regular Session. It reached “In Committee” and never advanced before the session ended, so it can no longer move — a new version would have to be reintroduced in the current session.

This bill is no longer active — its legislative session has ended, so there is no live prognosis. It would have to be reintroduced in the current session to move again.

Bill Text

How this bill changes current law

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AI-generated reading aid from the bill's amendatory text — verify against the official bill.

The bill establishes a Home Buyer Assistance Program within the Arizona Department of Housing.

  • Title 41, chapter 37, article 2

    41-3956. Home buyer assistance program; fund; rules A. THE DEPARTMENT SHALL ESTABLISH AND ADMINISTER THE HOME BUYER ASSISTANCE PROGRAM TO: 1. ASSIST HOME BUYERS BY PROVIDING LOW-INTEREST MORTGAGE LOANS, WITH DOWN PAYMENT AND CLOSING COST ASSISTANCE OPTIONS, FOR THE PURCHASE OF HOMES. 2. COORDINATE WITH AND, AS APPROPRIATE, PROVIDE MATCHING MONIES FOR SIMILAR PROGRAMS THAT ARE OFFERED BY PRIVATE EMPLOYERS AND COUNTY AND MUNICIPAL GOVERNMENTS SO AS TO MAXIMIZE THE TOTAL AMOUNT THAT HOME BUYERS CAN RECEIVE UNDER THIS PROGRAM. B. THE HOME BUYER ASSISTANCE PROGRAM FUND IS ESTABLISHED CONSISTING OF LEGISLATIVE APPROPRIATIONS, MONIES RECEIVED FROM THE REPAYMENT OF LOANS PROVIDED BY THE PROGRAM AND INTEREST EARNED ON THOSE MONIES. THE DEPARTMENT SHALL ADMINISTER THE FUND. MONIES IN THE FUND ARE CONTINUOUSLY APPROPRIATED. C. FOR LOANS PROVIDED UNDER THIS PROGRAM, THE DEPARTMENT SHALL: 1. ALLOW HOME BUYERS TO USE THE LOANS FOR THE PURCHASE OF NEWLY CONSTRUCTED OR EXISTING HOMES, INCLUDING HOMES THAT ARE HELD IN COOPERATIVE OR CONDOMINIUM FORMS OF OWNERSHIP. 2. REQUIRE THAT BORROWERS UNDER THIS PROGRAM NOT OWN OTHER RESIDENTIAL REAL ESTATE AT THE TIME THAT THE LOAN IS PROVIDED. 3. REQUIRE THAT A HOME PURCHASED UNDER THIS PROGRAM BE OCCUPIED BY THE HOME BUYER AS A PRINCIPAL RESIDENCE. D. ANY PROCEEDS FROM OR REPAYMENT OF LOANS PROVIDED UNDER THE PROGRAM SHALL BE DEPOSITED, PURSUANT TO SECTIONS 35-146 AND 35-147, IN THE HOME BUYER ASSISTANCE PROGRAM FUND ESTABLISHED BY THIS SECTION TO BE USED FOR THE PURPOSES OF THE PROGRAM. E. THE DEPARTMENT SHALL ADOPT RULES TO IMPLEMENT THE PROGRAM.

    This creates a new program to support home buyers with financial assistance for mortgages and related costs.

Action History

  1. Senate Second Reading

  2. Senate First Reading

Sponsors

Sponsorship breakdown

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1 sponsors · 1 co-sponsors · 91 not signed on

Sponsors (1)

Co-sponsors (1)

Not signed on (91)

91 members have not signed on to this bill.

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"Not signed on" means a member has not sponsored or co-sponsored this bill — it does not imply opposition. Members flagged Voted No have a recorded No vote on this bill.

Whip count is in markup. Polling the chamber and every recorded vote this session. Only the first open is slow. It’s instant for you after this. Calling the roll · Tallying · Engrossing

Subjects

finance housing
Cross-referencing the record. Reading this bill against every other bill in the corpus by meaning, not keywords. Only the first open is slow. It’s instant for you after this. Matching · Ranking · Engrossing

Frequently asked questions

Who sponsors SB 1597?
SB 1597 is sponsored by Martin Quezada and Raquel Terán.
What is the current status of SB 1597?
This bill died with Fifty-fifth Legislature - Second Regular Session. It reached “In Committee” and never advanced before the session ended, so it can no longer move — a new version would have to be reintroduced in the current session.
Where can I track SB 1597?
Track SB 1597 free on One Click Politics — get push/email alerts when it moves.

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Last checked for changes 3 months ago · updated continuously

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