Bill

Bill > SB232


NM SB232

Abq Affordable Housing


summary

Introduced
01/31/2025
In Committee
03/03/2025
Crossed Over
Passed
Dead
03/22/2025

Introduced Session

2025 Regular Session

Bill Summary

AN ACT MAKING AN APPROPRIATION TO THE LOCAL GOVERNMENT DIVISION OF THE DEPARTMENT OF FINANCE AND ADMINISTRATION TO CONTRACT FOR MASTER PLANNING FOR PERMANENTLY AFFORDABLE HOUSING IN THE CITY OF ALBUQUERQUE.

AI Summary

This bill appropriates $500,000 from the state's general fund to the local government division of the New Mexico Department of Finance and Administration, specifically for conducting master planning for permanently affordable housing. The funding is designated for use in fiscal years 2026 and 2027 and is intended to support master planning efforts focused on publicly owned undeveloped properties located in the Sawmill district of Albuquerque. The bill includes a standard fiscal provision stating that any unspent or uncommitted funds remaining at the end of fiscal year 2027 will be returned to the general fund. The goal appears to be supporting the development of affordable housing in a specific area of Albuquerque by first creating a comprehensive master plan that will guide future housing development on currently unused public lands.

Committee Categories

Health and Social Services

Sponsors (2)

Last Action

SHPAC: Reported by committee with Do Pass recommendation (on 03/03/2025)

bill text


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