Fiscal impact reports (FIRs) are prepared by the Legislative Finance Committee (LFC) for standing finance
committees of the Legislature. LFC does not assume responsibility for the accuracy of these reports if they
are used for other purposes.
F I S C A L I M P A C T R E P O R T
SPONSOR
Reps. Parajon, Matthews, Romero and
Silva/Sen. Maestas
LAST UPDATED
ORIGINAL DATE 2/24/25
SHORT TITLE Mobile Home Park Sale Notices
BILL
NUMBER House Bill 426
ANALYST Hilla
ESTIMATED ADDITIONAL OPERATING BUDGET IMPACT*
(dollars in thousands)
Agency/Program
FY25 FY26 FY27
3 Year
Total Cost
Recurring or
Nonrecurring
Fund
Affected
State No fiscal impact No fiscal impact No fiscal impact
No fiscal
impact
Recurring General Fund
Total No fiscal impact No fiscal impact No fiscal impact
No fiscal
impact
Recurring General Fund
Parentheses ( ) indicate expenditure decreases.
*Amounts reflect most recent analysis of this legislation.
Sources of Information
LFC Files
Agency Analysis Received From
New Mexico Attorney General (NMAG) Mortgage Finance Authority (MFA) Governor’s Office of Housing
SUMMARY
Synopsis of House Bill 426
House Bill 426 (HB426) adds to the Mobile Home Park Act to require owners to notify each
resident of a mobile home park and the Mortgage Finance Authority (MFA) of any bona fide
offer for sale that the owner intends to accept. If at least 51 percent of residents express intent to
buy within 90 days and secure financing within an additional 90 days, they have priority over
third-party buyers. The bill imposes financial penalties of either $100 thousand or 20 percent of
the appraised value of the mobile home park, whichever is greater. HB426 prohibits waiving
resident rights and legal action enforced by the New Mexico Attorney General (NMAG).
This bill does not contain an effective date and, as a result, would go into effect 90 days after the
Legislature adjourns if enacted, or June 20, 2025.
FISCAL IMPLICATIONS
This bill does not impose a direct fiscal impact on the state.
House Bill 426 – Page 2
SIGNIFICANT ISSUES
MFA states Colorado, Montano, California, and other states have similar laws as outlined in
HB426. The Office of Housing states that more than 35 thousand people live in manufactured
land-lease communities in the state, with San Juan County having the highest rate of
manufactured housing of any other county in the United States. Both the Office of Housing and
MFA indicate the bill would contribute to affordable housing options.
NMAG states the bill grants authority for the NMAG to enforce the new section but not to take
any action, noting the Mobile Home Park Act does not explicitly provide for enforcement by the
NMAG.
CONFLICT, DUPLICATION, COMPANIONSHIP, RELATIONSHIP
HB426 relates to House Bill 418 and House Bill 442, which make other amendments to the
Mobile Home Park Act.
TECHNICAL ISSUES
The NMAG notes the following:
Subsection C (1)-(3) may contain a technical error: It appears the intent of that subsection
was to require that documentation verifying that 51 percent of residents approved the
purchase offer be submitted to the owner, but as written would require that 51 percent of
the residents individually submit documentation to the owner and close on the purchase.
EH/hj/hg/sgs