SENATE BILL 114

48th legislature - STATE OF NEW MEXICO - first session, 2007

INTRODUCED BY

Richard C. Martinez

FOR THE MORTGAGE FINANCE AUTHORITY ACT OVERSIGHT COMMITTEE

AN ACT

MAKING AN APPROPRIATION TO THE DEPARTMENT OF FINANCE AND ADMINISTRATION FOR DISBURSEMENT TO THE NEW MEXICO MORTGAGE FINANCE AUTHORITY TO EXPAND THE WEATHERIZATION ASSISTANCE PROGRAM.

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

     Section 1. APPROPRIATION.--One million dollars ($1,000,000) is appropriated from the general fund to the department of finance and administration for disbursement to the New Mexico mortgage finance authority for expenditure in fiscal year 2008 to expand the weatherization assistance program in order to increase energy efficiency and reduce energy expenditures of homes occupied by low-income persons in New Mexico. No more than five percent of this appropriation may be used by the New Mexico mortgage finance authority for administrative expenses. Any unexpended or unencumbered balance remaining at the end of fiscal year 2008 shall revert to the general fund.

- 2 -