SENATE BILL 87

52nd legislature - STATE OF NEW MEXICO - first session, 2015

INTRODUCED BY

Nancy Rodriguez

ENDORSED BY THE MORTGAGE FINANCE

AUTHORITY ACT OVERSIGHT COMMITTEE

AN ACT

MAKING AN APPROPRIATION TO THE NEW MEXICO HOUSING TRUST FUND.

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

     SECTION 1. APPROPRIATION.--Five million dollars ($5,000,000) is appropriated from the general fund to the New Mexico housing trust fund for expenditure in fiscal year 2016 and subsequent fiscal years by the New Mexico mortgage finance authority for the purposes of carrying out the provisions of the New Mexico Housing Trust Fund Act. Any unexpended or unencumbered balance remaining at the end of a fiscal year shall not revert to the general fund.

.197849.1SA