Bill > SB216

This bill repeals Section 47-8A-1 of the New Mexico Statutes Annotated (NMSA), which previously prohibited political subdivisions and home rule municipalities from implementing rent control on privately owned real property. In plain language, this means that local governments in New Mexico will now have the legal authority to establish rent control regulations for private rental properties within their jurisdictions. Home rule municipalities are cities and towns with their own charters that grant them greater autonomy in creating local laws. By removing the existing prohibition, the bill gives local governments more flexibility to address housing affordability and rental market challenges by potentially limiting how much landlords can increase rent. The repeal essentially removes a statewide restriction that had prevented local governments from enacting rent control measures, thereby allowing more localized approaches to managing rental housing costs.

Health and Social Services

https://www.nmlegis.gov/Legislation/Legislation?chamber=S&legtype=B&legno=216&year=25