New MexicoBill would set aside $135 million for housing trust fund
New Mexico would put $135 million from its general fund into the New Mexico Housing Trust Fund for spending in fiscal year 2027 and later years.
What it does
The proposal would set aside $135 million from the state's general fund for the New Mexico Housing Trust Fund, starting in fiscal year 2027. Unused money would remain available in later years.
Argument forLetting the housing trust fund keep unused money could help it support work that takes more than one fiscal year.
Argument againstSetting aside $135 million from the general fund could leave less money available for other state needs.
More detail
The state would set aside $135 million from its general fund for the New Mexico Housing Trust Fund. The funding would go to the New Mexico Housing Trust Fund. The money would have to be used to carry out the New Mexico Housing Trust Fund Act. Money left unspent or uncommitted at a fiscal year's end would stay in the housing trust fund. The money would be available for spending in fiscal year 2027 and subsequent fiscal years.
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Where it stands
- Introduced
- Passed House
- Passed Senate
- To Governor
- Became Law
Looking ahead
No hearings or votes scheduled.
History
- 2026
- Mar 24action postponed indefinitelyLatest
- Jan 28DO PASS committee report adoptedMinor
- Jan 22Sent to House Government, Elections and Indian Affairs Committee & House Appropriations & Finance CommitteeIntroduced
HousingTaxes & Budget