HB 260 MFA AFFORDABLE HOUSING STUDY

Rep Rodney "Rod" D Montoya

Actions: [4] HHHC/HAFC-HHHC

Scheduled: Not Scheduled

 House Bill 260 (HB 260) requires the New Mexico Mortgage Finance Authority (NMFA) to conduct a study on affordable housing and makes an appropriation. 

 The New Mexico Mortgage Finance Authority (NMFA) is directed to conduct an affordable housing study from July 1, 2024 through October 1, 2024. The study would determine: 

•	locations in the state where affordable housing is needed; 
•	vacancies in state- and locally owned properties; 
•	state- and locally owned land that could be used for housing development; and 
•	the necessity of creating a fund to provide funding for building infrastructure. 

The MFA must report the findings of this study to the Mortgage Finance Authority Act (MFAA) oversight committee before November 30, 2024. 
Five hundred thousand dollars ($500,000) is appropriated from the General Fund to the Department of Finance and Administration for expenditure in Fiscal Year 2025 for the MFA to conduct the study. 

 If the bill does not pass, resources to study the issues identified would have to be found elsewhere. 

 Senate Bill 216 (SB 216) – NMFA Affordable Housing Projects
House Bill 195 (HB 195) - Housing Fund and Changes
Senate Bill 31 (SB 31) - MFA Affordable Housing Act Funds
Senate Bill 212 (SB 212) - Regional Affordable Housing Plans