SENATE BILL 150
54th legislature - STATE OF NEW MEXICO - second session, 2020
Roberto "Bobby" J. Gonzales
ENDORSED BY THE MORTGAGE FINANCE AUTHORITY ACT OVERSIGHT COMMITTEE
MAKING AN APPROPRIATION FOR EMERGENCY AND MINOR REPAIRS OF HOMES OCCUPIED BY LOW-INCOME PERSONS.
BE IT ENACTED BY THE LEGISLATURE OF THE STATE OF NEW MEXICO:
SECTION 1. APPROPRIATION.--Two million dollars ($2,000,000) is appropriated from the general fund to the department of finance and administration for expenditure in fiscal years 2021 and 2022 for the New Mexico mortgage finance authority to provide for emergency and minor repairs of homes occupied by low-income persons in New Mexico. Emergency and minor repairs include repairs necessitated by natural disasters, repair and replacement of roofs and accessibility modifications for physically impaired persons. No more than five percent of this appropriation shall be used by the New Mexico mortgage finance authority for administrative expenses. Any unexpended or unencumbered balance remaining at the end of fiscal year 2022 shall revert to the general fund.
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