SENATE BILL 810

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

INTRODUCED BY

Phil A. Griego

AN ACT

MAKING AN APPROPRIATION FOR A RESIDENTIAL HOME LOAN PROGRAM FOR TEACHERS, PUBLIC SAFETY WORKERS, HEALTH CARE WORKERS AND ACTIVE MEMBERS OF THE MILITARY.

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

     Section 1. APPROPRIATION.--Two million dollars ($2,000,000) 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 offer home loans at below-market interest rates and down-payment assistance to teachers, public safety workers, health care workers and active members of the military. Any unexpended or unencumbered balance remaining at the end of fiscal year 2008 shall revert to the general fund.

.166569.1