SENATE BILL 422

57th legislature - STATE OF NEW MEXICO - first session, 2025

INTRODUCED BY

Micaelita Debbie O’Malley and Mimi Stewart

 

 

 

 

 

AN ACT

MAKING AN APPROPRIATION FOR OPERATIONAL SUPPORT FOR AFFORDABLE HOUSING NONPROFIT ORGANIZATIONS.

 

BE IT ENACTED BY THE LEGISLATURE OF THE STATE OF NEW MEXICO:

     SECTION 1. APPROPRIATION.--Five million dollars ($5,000,000) is appropriated from the general fund to the department of finance and administration for expenditure in fiscal years 2026 through 2030 for the New Mexico mortgage finance authority to provide operational funding and technical assistance grants to nonprofit organizations that provide affordable housing, homelessness services or transitional housing. Any unexpended or unencumbered balance remaining at the end of fiscal year 2030 shall revert to the general fund.

.230975.1