summary
Introduced
02/17/2025
02/17/2025
In Committee
03/08/2025
03/08/2025
Crossed Over
Passed
Dead
03/22/2025
03/22/2025
Introduced Session
2025 Regular Session
Bill Summary
AN ACT MAKING AN APPROPRIATION FOR OPERATIONAL SUPPORT FOR AFFORDABLE HOUSING NONPROFIT ORGANIZATIONS.
AI Summary
This bill appropriates $5 million from the state's general fund to the Department of Finance and Administration, specifically to be used by the New Mexico Mortgage Finance Authority (NMMFA) over fiscal years 2026-2030. The funds are designated to support nonprofit organizations working in affordable housing, homelessness services, and transitional housing through operational funding and technical assistance grants. These grants are intended to help nonprofit organizations that play a critical role in addressing housing challenges by providing financial support and expert guidance. Any unspent money from this appropriation will be returned to the general fund at the end of fiscal year 2030. The bill represents a targeted effort to strengthen the capacity of nonprofits that work to improve housing access and support for vulnerable populations in New Mexico.
Committee Categories
Budget and Finance
Sponsors (2)
Last Action
STBTC: Reported by committee with Do Pass recommendation (on 03/08/2025)
bill text
bill summary
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bill summary
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bill summary
| Document Type | Source Location |
|---|---|
| State Bill Page | https://www.nmlegis.gov/Legislation/Legislation?chamber=S&legtype=B&legno=422&year=25 |
| STBTC Committee Report | https://www.nmlegis.gov/Sessions/25%20Regular/bills/senate/SB0422CT1.pdf |
| Fiscal Note | https://www.nmlegis.gov/Sessions/25%20Regular/firs/SB0422.PDF |
| BillText | https://www.nmlegis.gov/Sessions/25%20Regular/bills/senate/SB0422.pdf |
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