Bill > SB38

This bill appropriates $10,950,000 from the state's general fund to the department of finance and administration, which will then distribute the funds to the New Mexico mortgage finance authority for use between fiscal years 2015 and 2020. The purpose of this funding is to establish five "enterprise zone supportive housing initiatives" that will utilize the "heading home collective impact model," a strategy aimed at addressing homelessness by coordinating various resources and services. Any money not spent or committed by the end of fiscal year 2020 will be returned to the general fund, and the bill is declared an emergency measure, meaning it will take effect immediately upon passage for the public peace, health, and safety.