44TH LEGISLATURE - STATE OF NEW MEXICO - FIRST SESSION, 1999

RELATING TO ECONOMIC DEVELOPMENT; REQUIRING REPORTS ON HOUSING AFFORDABILITY IN NEW MEXICO.

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

Section 1. ECONOMIC DEVELOPMENT DEPARTMENT--MONITOR AND REPORT.--The economic development department shall monitor and analyze various national and state activities that affect affordable housing availability in New Mexico, make a quarterly report of its assessments to the legislative finance committee and shall, during each legislative session, provide a financial impact report on each piece of legislation affecting housing. The department shall consider the activities, including proposed rulemaking and legislation, of the taxation and revenue department, the board of examiners for architects, the labor department, the bureau of business and economic research at the university of New Mexico, the New Mexico mortgage finance authority and those various agencies under the regulation and licensing department with responsibilities affecting the cost of housing. The report shall also consider interest rates, building materials supply and transportation issues at the national level that affect affordable housing availability in New Mexico.