Bill > HB571

This bill establishes the Building Housing Communities Act, which aims to incentivize municipalities in New Mexico to adopt strategies that increase housing affordability and accessibility. The Department of Finance and Administration will create a program that grants award certificates to municipalities implementing approved housing development strategies. These strategies will be developed through rulemaking and must consider diverse factors such as urban versus rural needs, best practices from other jurisdictions, land use policies, construction costs, zoning complexity, and housing unit diversity. Municipalities can earn the designation of a "building New Mexico community" by adopting one or more department-approved strategies designed to reduce regulatory barriers to housing development. The bill provides flexibility by recognizing that housing challenges differ between urban and rural areas and seeks to create a comprehensive approach to addressing housing shortages. Importantly, the provisions of this act will become effective on July 1, 2027, giving municipalities and the department time to prepare and develop the necessary strategies and framework.

Agriculture and Natural Resources, Budget and Finance

https://www.nmlegis.gov/Legislation/Legislation?chamber=H&legtype=B&legno=571&year=25