Bill > SB333

This bill appropriates $50,000 from the general fund to the Administrative Office of the Courts to contract with a nonprofit community development corporation. The purpose is to study the foreclosure process in New Mexico, provide policy recommendations to protect community stability and due process rights, develop plans for education and training on loss mitigation, ensure judicial processes are enhanced for foreclosures and evictions, provide policy recommendations to support owner-occupancy, and study the effects of alternative lending options like land banking, land trusts, and state-owned banking institutions. Any unexpended or unencumbered balance will not revert to the general fund.

Budget and Finance, Health and Social Services

https://www.nmlegis.gov/lcs/legislation.aspx?chamber=S&legtype=B&legno=333&year=21