SENATE BILL 349

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

INTRODUCED BY

Roberto "Bobby" J. Gonzales

 

 

 

 

 

AN ACT

MAKING APPROPRIATIONS FOR THE NORTH CENTRAL NEW MEXICO ECONOMIC DEVELOPMENT DISTRICT.

 

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

     SECTION 1. APPROPRIATIONS.--

          A. The following amounts are appropriated from the general fund to the local government division of the department of finance and administration for expenditure in fiscal year 2026 and subsequent fiscal years for the north central New Mexico economic development district:

                (1) two million dollars ($2,000,000) to provide grants for housing planning and design to public entities in the north central New Mexico economic development district in fiscal year 2026 and subsequent fiscal years; and

                (2) thirty-five million dollars ($35,000,000) to provide grants to public entities in the north central New Mexico economic development district for housing construction and infrastructure in fiscal year 2026 and subsequent fiscal years.

          B. Any unexpended or unencumbered balance remaining at the end of a fiscal year shall not revert to the general fund. No more than ten percent of the appropriations shall be used by the department for administering the grants.

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