SENATE BILL 171

48th legislature - STATE OF NEW MEXICO - second session, 2008

INTRODUCED BY

Luciano "Lucky" Varela

AN ACT

MAKING AN APPROPRIATION FOR A STATEWIDE STUDY OF AFFORDABLE HOUSING.

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

     Section 1. APPROPRIATION.--Forty-five thousand dollars ($45,000) is appropriated from the general fund to the department of finance and administration for disbursement to the New Mexico mortgage finance authority for expenditure in fiscal year 2009 to develop a statewide affordable housing plan that will identify and explain existing local, state and federal affordable housing plans and explain the current gaps and barriers to developing, managing and preserving affordable housing in New Mexico. The plan shall address all types of affordable housing, including permanent supportive housing, rental assistance, public housing, multifamily and single-family rental housing and single-family home ownership. The plan shall also address emergency shelter, transitional housing, owner-occupied and rental housing rehabilitation and weatherization. The plan shall include recommendations regarding the estimated number of housing units and funding needed to fill the gaps for each type of housing. The plan shall also estimate the effect of implementing a housing-first approach on the need for emergency shelter and transitional housing. The New Mexico mortgage finance authority shall present the plan to the welfare reform oversight committee by October 1, 2008. Any unexpended or unencumbered balance remaining at the end of fiscal year 2009 shall revert to the general fund.

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