HOUSE BILL 177

51st legislature - STATE OF NEW MEXICO - second session, 2014

INTRODUCED BY

Luciano "Lucky" Varela

AN ACT

MAKING AN APPROPRIATION TO FUND THE OVERSIGHT DUTIES RELATED TO THE AFFORDABLE HOUSING ACT.

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

     SECTION 1. APPROPRIATION.--Two hundred thousand dollars ($200,000) is appropriated from the general fund to the department of finance and administration for expenditure by the New Mexico mortgage finance authority in fiscal years 2015 and 2016 for the purpose of funding the oversight of the Affordable Housing Act. Any unexpended or unencumbered balance remaining at the end of fiscal year 2016 shall revert to the general fund.

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