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F I S C A L I M P A C T R E P O R T
SPONSOR Varela
ORIGINAL DATE
LAST UPDATED
1/22/08
HB 171
SHORT TITLE Statewide Affordable Housing Study
SB
ANALYST Propst
APPROPRIATION (dollars in thousands)
Appropriation
Recurring
or Non-Rec
Fund
Affected
FY08
FY09
$45.0
Non-recurring
General Fund
(Parenthesis ( ) Indicate Expenditure Decreases)
SOURCES OF INFORMATION
LFC Files
Responses Received From
NM Mortgage Finance Authority (NMFA)
SUMMARY
Synopsis of Bill
House Bill 171, Making an Appropriation for a Statewide Study of Affordable Housing,
appropriates $45.0 thousand from the general fund to Department of Finance and Administration
for a study of affordable housing.
FISCAL IMPLICATIONS
The appropriation of $45.0 thousand contained in this bill is a non-recurring expense to the
general fund. Any unexpended or unencumbered balance remaining at the end of FY09 shall
revert to the general fund.
SIGNIFICANT ISSUES
HB 171 directs DFA to disburse to the New Mexico Mortgage Finance Authority, $45.0
thousand to develop a statewide affordable housing plan that identifies existing local, state and
federal affordable housing plans and explain the current gaps and barriers to developing,
managing and preserving affordable housing in NM. The plan should address all types of
affordable housing including permanent housing, rental assistance, public housing, multifamily
and single family rental housing and single family ownership.