VOLUME III – JANUARY 29, 2024

As of the January 29th, 488 bills have been filed—254 in the House of Representatives and 234 in the Senate. The final day for bills to be introduced is January 31st. Below is a list of housing and real estate-related bills.

SUPPORT

• House Bill 195 (Serrato) - Amends and enacts sections of the Opportunity Enterprise Act (OEA) and changes the name of the act; allows the New Mexico Finance Authority (NMFA) to provide housing development loans; creates the Housing Development Revolving Fund; defines terms; amends the structure of the Opportunity Enterprise Review Board and changes its name; provides duties; requires rulemaking; amends requirements for opportunity enterprise loans; and requires reporting.
• Senate Bill 7 (Rodriguez) - Appropriates five hundred million ($500,000,000) to the New Mexico Housing Trust Fund. The Mortgage Finance Authority Act Oversight Committee sought introduction of this bill.
• Senate Bill 31 (Gonzales) - Proposes a financial allocation to support the Affordable Housing Act through the New Mexico Mortgage Finance Authority. The funds are intended to be used to carry out the objectives of the Affordable Housing Act, focusing on initiatives to make housing more accessible and affordable within the state.

OPPOSE

• House Bill 24 (Cates) - Amends property law relating to condominiums to require that by July 2, 2024, at least 55 percent of units of condominiums are owner-occupied and to require at least 35 percent of the members of the governing body of associations that manage a condominium own and occupy units within that condominium.
• House Bill 25 (Cates) - Makes it illegal to discriminate against renters or homebuyers based on income source/s.
• House Joint Resolution 4 (Ferrary) - Proposes to amend the constitution of NM Article 2 by adding a new section that provides the people of the state with environmental rights and directs the state, counties, and municipalities to serve as trustees of the state’s natural resources for the benefit of all the people.
• Senate Bill 186 (Lopez) - Repealing the prohibition on political subdivisions and home rule municipalities from enacting rent control for privately owned real property in the state of New Mexico.
• Senate Joint Resolution 8 (Sedillo-Lopez) - Proposing to amend the constitution of NM by adding a new section of article 2 that provides the people of the state with environmental rights, including the right to clean and healthy air, water, soil, native ecosystems and environments, including a safe climate, and directs the state, counties and municipalities to serve as trustees of the natural resources of NM for the benefit of all the people.

MONITOR

• House Bill 139 (Cates) - Enacts the Professional Recruitment and Retention Housing Loan for Service Act (PRRHLS); provides for program administration by the New Mexico Mortgage Finance Authority (NMMFA); provides loans for service to professionals for expenses related to the purchase of a home; conditions loans on practice in New Mexico; and provides terms for repayment.
• House Bill 247 (Chandler) - Modifies notices of property valuations forms and repeals a statute that presumes property to be classified as nonresidential.
• House Bill 260 (Montoya) - Requires the New Mexico Mortgage Finance Authority (NMFA) to conduct a study on affordable housing and makes an appropriation.
• House Bill 261 (Montoya) - Increases the amount invested that qualifies for the Affordable Housing Tax Credit from 50% to 100% in a housing project.
• Senate Bill 4 (Griggs) - Increases the Occupancy Tax (Lodger’s Tax Act) and modifies the uses of the tax to include quality-of-life facilities and allows bond issue to help defray the cost of the facilities.
• Senate Bill 9 (Neville) - Transfers three hundred million dollars ($300,000,000) to the Conservation Legacy Permanent Fund for the purposes of the fund and makes an appropriation.
• Senate Bill 71 (Padilla) - Creates the office of housing, providing powers and duties, providing for the development, and updating of the state housing plan, and adding the director of the office of housing to the New Mexico Mortgage Finance Authority.
• Senate Bill 207 (Wirth) - Authorizes an occupancy surtax on certain short-term rentals (STR). Requires local governments to impose the surtax and use the proceeds to support the cost of affordable housing. Modifies the form requirements for notice of evaluations to property owners and repeals a statute that requires property be presumed nonresidential.
• Senate Bill 212 (Maestas) - Requires regional housing authorities to develop and implement an affordable housing plan for the following five years.
• Senate Bill 216 (Rodriguez) - Amends the New Mexico Finance Authority Act (NMFAA) to provide financing for affordable housing projects; amends the definitions of "public project" and "qualified entity"; and amends the local government planning fund.

Learn more about legislation by searching for the bill HERE.