SENATE BILL 75

52nd legislature - STATE OF NEW MEXICO - second session, 2016

INTRODUCED BY

Mary Kay Papen and Kelly K. Fajardo

ENDORSED BY THE MORTGAGE FINANCE AUTHORITY ACT

OVERSIGHT COMMITTEE

AN ACT

MAKING AN APPROPRIATION TO FUND THE OVERSIGHT OF THE REGIONAL HOUSING AUTHORITIES.

BE IT ENACTED BY THE LEGISLATURE OF THE STATE OF NEW MEXICO:

     SECTION 1. APPROPRIATION.--Three hundred thousand dollars ($300,000) is appropriated from the general fund to the department of finance and administration for expenditure in fiscal year 2017 and subsequent fiscal years for the purpose of funding the oversight of the regional housing authorities by the New Mexico mortgage finance authority. Any unexpended or unencumbered balance remaining at the end of a fiscal year shall not revert to the general fund.

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