SENATE BILL 7

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

INTRODUCED BY

Nancy Rodriguez

 

 

 

FOR 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 hundred million dollars ($500,000,000) is appropriated from the general fund to the New Mexico housing trust fund for expenditure in fiscal year 2025 and subsequent fiscal years for the New Mexico mortgage finance authority to carry 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.

.226663.1