45th legislature - STATE OF NEW MEXICO - first session, 2001

MAKING AN APPROPRIATION TO ASSIST NEW MEXICANS WITH DISABILITIES TO BECOME HOMEOWNERS.

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

Section 1. APPROPRIATION.--

A. Two hundred thousand dollars ($200,000) is appropriated from the general fund to the department of finance and administration for expenditure in fiscal year 2002 in the following amounts for the following purposes:

(1) fifty thousand dollars ($50,000) for a down payment assistance revolving loan fund for eligible individuals; and

(2) one hundred fifty thousand dollars ($150,000) for technical assistance necessary for persons with disabilities to achieve home ownership, including: individual housing and financial counseling, independent living strategies and post-purchase follow-up to minimize risk of delinquency; educational workshops on money management and mortgage obligations; a resource and referral system on housing issues; a statewide education program about housing options for persons with disabilities; and a training program for volunteers to assist persons with disabilities to achieve home ownership.

B. Any unexpended or unencumbered balance remaining at the end of fiscal year 2002 shall revert to the general fund.