SENATE BILL

56th legislature - STATE OF NEW MEXICO - second session, 2024

INTRODUCED BY

Roberto "Bobby" J. Gonzales

 

 

ENDORSED BY THE MORTGAGE FINANCE AUTHORITY ACT

OVERSIGHT COMMITTEE

 

AN ACT

MAKING AN APPROPRIATION TO THE DEPARTMENT OF FINANCE AND ADMINISTRATION TO CARRY OUT THE PURPOSES OF THE AFFORDABLE HOUSING ACT.

 

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

     SECTION 1. APPROPRIATION.--Five hundred thousand dollars ($500,000) is appropriated from the general fund to the department of finance and administration for expenditure in fiscal year 2025 and subsequent fiscal years for the New Mexico mortgage finance authority to carry out the purposes of the Affordable Housing Act. Any unexpended or unencumbered balance remaining at the end of a fiscal year shall not revert to the general fund.

.226721.1SA