On Feb. 14, NM LEG passed bill on affordable housing projects.
NM LEG passed SB 216 re New Mexico finance authorityact for affordable Housing.
NMFA Affordable Housing
Amended definitions for public project and qualified entity in NM FIN 6-21-3 to add housing and a non-profit housing developer as new qualified entities under the rule.
Also amended NM FIN 6-21-6.4 so that affordable housing plans can receive funding from the local government planning fund, and will include flood inundation maps.
Funding from the planning fund will also be used to obtain archeological clearances.
Legislative History
On Jan. 25, 2024, bill introduced in Senate; on Feb. 11, 2024, bill passed in Senate.
On Feb. 12, 2024, bill delivered to House; on Feb. 14, 2024, bill was passed in House.
Effectiveness
SB 216 will become effective 90 days after adjournment of Legislature, May 15, 2024.
Feb. 28, 2024 NM LEG Bill Approval
On Feb. 28, 2024, NM LEG reported governor approved SB 216, became Chapter 15.
Regulators
NM LEG
Entity Types
CNSM; Corp; Inv Co
Reference
Ch. 15, 2/28/2024; Bill SB216, 2/28/2024; Bill SB216, 2/14/2024; Citation: *NM FIN* 6-21-3, 6-21-6.4;
