New Mexico 2025 Regular Session

New Mexico House Bill HB453 Compare Versions

Only one version of the bill is available at this time.

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28	28	HOUSE BILL 453
29	29	57TH LEGISLATURE - STATE OF NEW MEXICO - FIRST SESSION, 2025
30	30	INTRODUCED BY
31	31	Janelle Anyanonu
32	32	AN ACT
33	33	RELATING TO HOUSING; AMENDING AND ENACTING SECTIONS OF THE
34	34	AFFORDABLE HOUSING ACT; CREATING THE CREDITWORTHINESS
35	35	ASSISTANCE PROGRAM; PROVIDING FOR CREDITWORTHINESS ASSISTANCE
36	36	GRANTS; CREATING THE CREDITWORTHINESS ASSISTANCE FUND; MAKING
37	37	AN APPROPRIATION.
38	38	BE IT ENACTED BY THE LEGISLATURE OF THE STATE OF NEW MEXICO:
39	39	SECTION 1. Section 6-27-3 NMSA 1978 (being Laws 2004,
40	40	Chapter 104, Section 3, as amended) is amended to read:
41	41	"6-27-3. DEFINITIONS.--As used in the Affordable Housing
42	42	Act:
43	43	A. "affordable housing" means residential housing
44	44	primarily for persons or households of low or moderate income;
45	45	B. "authority" means the New Mexico mortgage
46	46	finance authority;
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74	74	C. "building" means a structure capable of being
75	75	renovated or converted into affordable housing or a structure
76	76	that is to be demolished and is located on land that is donated
77	77	and upon which affordable housing will be constructed;
78	78	D. "creditworthiness assistance grant" means a
79	79	grant of money to be used by a participant for:
80	80	(1) all or a portion of unpaid rent; and
81	81	(2) damages caused to a rented residential
82	82	property by a participant in the creditworthiness assistance
83	83	program;
84	84	[D.] E. "governmental entity" means the state,
85	85	including any agency or instrumentality of the state, a county,
86	86	a municipality or the authority;
87	87	[E.] F. "household" means one or more persons
88	88	occupying a housing unit;
89	89	[F.] G. "housing assistance grant" means the
90	90	donation, provision or payment by a governmental entity of:
91	91	(1) land upon which affordable housing will be
92	92	constructed;
93	93	(2) an existing building that will be
94	94	renovated, converted or demolished and reconstructed as
95	95	affordable housing;
96	96	(3) the costs of acquisition, development,
97	97	construction, financing and operating or owning affordable
98	98	housing; or
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127	127	(4) the costs of financing or infrastructure
128	128	necessary to support affordable housing;
129	129	[G.] H. "infrastructure" includes infrastructure
130	130	improvements and infrastructure purposes;
131	131	[H.] I. "infrastructure improvement" includes, but
132	132	is not limited to:
133	133	(1) sanitary sewage systems, including
134	134	collection, transport, storage, treatment, dispersal, effluent
135	135	use and discharge;
136	136	(2) drainage and flood control systems,
137	137	including collection, transport, diversion, storage, detention,
138	138	retention, dispersal, use and discharge;
139	139	(3) water systems for domestic purposes,
140	140	including production, collection, storage, treatment,
141	141	transport, delivery, connection and dispersal;
142	142	(4) areas for motor vehicle use for road
143	143	access, ingress, egress and parking;
144	144	(5) trails and areas for pedestrian,
145	145	equestrian, bicycle or other nonmotor vehicle use for access,
146	146	ingress, egress and parking;
147	147	(6) parks, recreational facilities and open
148	148	space areas to be used by residents for entertainment, assembly
149	149	and recreation;
150	150	(7) landscaping, including earthworks,
151	151	structures, plants, trees and related water delivery systems;
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180	180	(8) electrical transmission and distribution
181	181	facilities;
182	182	(9) natural gas distribution facilities;
183	183	(10) lighting systems;
184	184	(11) cable or other telecommunications lines
185	185	and related equipment;
186	186	(12) traffic control systems and devices,
187	187	including signals, controls, markings and signs;
188	188	(13) inspection, construction management and
189	189	related costs in connection with the furnishing of the items
190	190	listed in this subsection; and
191	191	(14) heating, air conditioning and
192	192	weatherization facilities, systems or services, and energy
193	193	efficiency improvements that are affixed to real property;
194	194	[I.] J. "infrastructure purpose" means:
195	195	(1) planning, design, engineering,
196	196	construction, acquisition or installation of infrastructure,
197	197	including the costs of applications, impact fees and other
198	198	fees, permits and approvals related to the construction,
199	199	acquisition or installation of the infrastructure;
200	200	(2) acquiring, converting, renovating or
201	201	improving existing facilities for infrastructure, including
202	202	facilities owned, leased or installed by the owner;
203	203	(3) acquiring interests in real property or
204	204	water rights for infrastructure, including interests of the
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233	233	owner; and
234	234	(4) incurring expenses incident to and
235	235	reasonably necessary to carry out the purposes specified in
236	236	this subsection;
237	237	[J.] K. "municipality" means an incorporated city,
238	238	town or village, whether incorporated under general act,
239	239	special act or special charter, incorporated counties and H
240	240	class counties;
241	241	L. "participant" means a person who participates in
242	242	a training program authorized by the state, a county or a
243	243	municipality that provides information on the importance of
244	244	budgeting and the operation of credit histories and credit
245	245	scores;
246	246	[K.] M. "public post-secondary educational
247	247	institution" means a state university or a public community
248	248	college;
249	249	[L.] N. "qualifying grantee" means:
250	250	(1) an individual who is qualified to receive
251	251	assistance pursuant to the Affordable Housing Act and is
252	252	approved by the governmental entity; and
253	253	(2) a governmental housing agency, regional
254	254	housing authority, tribal housing agency, corporation, limited
255	255	liability company, partnership, joint venture, syndicate,
256	256	association or nonprofit organization that:
257	257	(a) is organized under state, local or
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286	286	tribal laws and can provide proof of such organization;
287	287	(b) if a nonprofit organization, has no
288	288	part of its net earnings inuring to the benefit of any member,
289	289	founder, contributor or individual; and
290	290	(c) is approved by the governmental
291	291	entity; and
292	292	[M.] O. "residential housing" means any building,
293	293	structure or portion thereof that is primarily occupied, or
294	294	designed or intended primarily for occupancy, as a residence by
295	295	one or more households and any real property that is offered
296	296	for sale or lease for the construction or location thereon of
297	297	such a building, structure or portion thereof. "Residential
298	298	housing" includes congregate housing, manufactured homes,
299	299	housing intended to provide or providing transitional or
300	300	temporary housing for homeless persons and common health care,
301	301	kitchen, dining, recreational and other facilities primarily
302	302	for use by residents of a residential housing project."
303	303	SECTION 2. A new section of the Affordable Housing Act is
304	304	enacted to read:
305	305	"[NEW MATERIAL] CREDITWORTHINESS ASSISTANCE PROGRAM--
306	306	CREDITWORTHINESS ASSISTANCE GRANTS--ELIGIBILITY.--
307	307	A. The "creditworthiness assistance program" is
308	308	created and shall be administered by the authority. The
309	309	application for a creditworthiness assistance grant shall be in
310	310	a form prescribed by the authority. To be eligible for a
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339	339	creditworthiness assistance grant:
340	340	(1) a nonindividual qualifying grantee shall:
341	341	(a) have a functioning accounting system
342	342	that is operated in accordance with generally accepted
343	343	accounting principles or shall designate an entity that will
344	344	maintain such an accounting system consistent with generally
345	345	accepted accounting principles; and
346	346	(b) have among its purposes significant
347	347	activities related to renting residential housing; and
348	348	(2) an individual qualifying grantee shall
349	349	meet all requirements provided pursuant to rules promulgated by
350	350	the authority pursuant to the Affordable Housing Act.
351	351	B. A creditworthiness assistance grant provided
352	352	pursuant to this section shall not exceed:
353	353	(1) five thousand dollars ($5,000) of unpaid
354	354	rent to a qualifying grantee per one participant;
355	355	(2) ten thousand dollars ($10,000) of unpaid
356	356	rent to a qualifying grantee per calendar year; and
357	357	(3) two thousand five hundred dollars ($2,500)
358	358	for damages caused to a rented residential property by a
359	359	participant.
360	360	C. The authority shall promulgate rules regarding:
361	361	(1) requirements for a participant to be
362	362	eligible to receive a creditworthiness assistance grant;
363	363	(2) the application for a creditworthiness
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392	392	assistance grant;
393	393	(3) the training program on the importance of
394	394	budgeting and the operation of credit histories and credit
395	395	scores; and
396	396	(4) the process for other grantors to
397	397	administer creditworthiness assistance grants."
398	398	SECTION 3. Section 6-27-5 NMSA 1978 (being Laws 2004,
399	399	Chapter 104, Section 5, as amended) is amended to read:
400	400	"6-27-5. STATE, COUNTY, MUNICIPALITIES, INSTRUMENTALITIES
401	401	OF THE STATE AND THE AUTHORITY--AUTHORIZATION FOR AFFORDABLE
402	402	HOUSING.--The state, including any agency or instrumentality of
403	403	the state, or a county, a municipality or the authority may:
404	404	A. donate, provide or pay all or a portion of the
405	405	costs of land for the construction on the land of affordable
406	406	housing;
407	407	B. donate, provide or pay all or a portion of the
408	408	costs of conversion or renovation of existing buildings into
409	409	affordable housing;
410	410	C. provide or pay the costs of financing or
411	411	infrastructure necessary to support affordable housing
412	412	projects; [or]
413	413	D. provide or pay all or a portion of the costs of
414	414	acquisition, development, construction, financing, operating or
415	415	owning affordable housing; or
416	416	E. donate, provide or pay all or a portion of the
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445	445	costs of unpaid rent owed by a participant or damages caused to
446	446	a residential property pursuant to the requirements provided in
447	447	Subsection B of Section 2 of this 2025 act ."
448	448	SECTION 4. Section 6-27-7 NMSA 1978 (being Laws 2004,
449	449	Chapter 104, Section 7, as amended) is amended to read:
450	450	"6-27-7. REQUIREMENT FOR ENACTMENT OF AN ORDINANCE BY A
451	451	COUNTY OR A MUNICIPALITY AND REVIEW BY THE AUTHORITY
452	452	AUTHORIZING HOUSING ASSISTANCE GRANTS AND CREDITWORTHINESS
453	453	ASSISTANCE GRANTS.--
454	454	A. A county or municipality may provide housing
455	455	assistance grants pursuant to Article 9, Section 14 of the
456	456	constitution of New Mexico and creditworthiness assistance
457	457	grants pursuant to Section 2 of this 2025 act after enactment
458	458	by its governing body of an ordinance authorizing grants
459	459	stating the requirements of and purposes of the grants. The
460	460	ordinance may provide for matching or using local, private or
461	461	federal funds either through direct participation with a
462	462	federal agency pursuant to federal law or through indirect
463	463	participation through programs of the authority. No less than
464	464	forty-five days prior to enactment, the county or municipality
465	465	shall submit a proposed ordinance to the authority, which shall
466	466	review the proposed ordinance to ensure compliance with rules
467	467	promulgated by the authority pursuant to Section 6-27-8 NMSA
468	468	1978. Within fifteen days after enactment of the ordinance,
469	469	the county or municipality shall submit a certified true copy
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498	498	of the ordinance to the authority. The governing body of the
499	499	county or municipality shall authorize the transfer or
500	500	disbursement of housing assistance grant funds only after the
501	501	qualifying grantee has submitted a budget to the governing body
502	502	and the governing body has approved the budget.
503	503	B. A school district may transfer land or buildings
504	504	owned by the school district to a county or municipality to be
505	505	further granted as part or all of an affordable housing grant
506	506	if the school district and the governing body of the county or
507	507	municipality enter into a contract that provides the school
508	508	district with a negotiated number of affordable housing units
509	509	that will be reserved for employees of the school district.
510	510	C. The governing board of a public post-secondary
511	511	educational institution may transfer land or buildings owned by
512	512	that institution to a county or municipality; provided that:
513	513	(1) the property transferred shall be granted
514	514	by the county or municipality as part or all of an affordable
515	515	housing grant; and
516	516	(2) the governing board of the public post-
517	517	secondary educational institution and the governing body of the
518	518	county or municipality enter into a contract that provides the
519	519	public post-secondary educational institution with affordable
520	520	housing units.
521	521	D. Agencies or instrumentalities of the state may
522	522	provide housing assistance grants pursuant to Article 9,
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551	551	Section 14 of the constitution of New Mexico in accordance with
552	552	rules promulgated by the authority.
553	553	E. The authority may provide housing assistance
554	554	grants pursuant to Article 9, Section 14 of the constitution of
555	555	New Mexico in accordance with rules promulgated by the
556	556	authority."
557	557	SECTION 5. Section 6-27-8 NMSA 1978 (being Laws 2004,
558	558	Chapter 104, Section 8, as amended) is amended to read:
559	559	"6-27-8. PROVISIONS TO ENSURE SUCCESSFUL COMPLETION OF
560	560	AFFORDABLE HOUSING PROJECTS--SALE AFTER FORECLOSURE.--
561	561	A. State, county and municipal housing assistance
562	562	grants awarded pursuant to the Affordable Housing Act shall be
563	563	applied for and awarded to qualifying grantees pursuant to the
564	564	rules promulgated by the authority subject to the requirements
565	565	of that act.
566	566	B. The authority shall adopt rules in accordance
567	567	with the Administrative Procedures Act to carry out the
568	568	purposes of the Affordable Housing Act. Concurrence by the New
569	569	Mexico municipal league is required for rules applicable to
570	570	municipalities. Concurrence by the New Mexico association of
571	571	counties is required for rules applicable to counties.
572	572	C. The authority shall adopt rules covering:
573	573	(1) procedures to ensure that qualifying
574	574	grantees meet the requirements of the Affordable Housing Act
575	575	and rules promulgated pursuant to that act both at the time of
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604	604	the award and through the term of the grant or the
605	605	creditworthiness assistance grant ;
606	606	(2) establishment of an application and award
607	607	timetable for housing assistance grants and creditworthiness
608	608	assistance grants to permit the selection of the potential
609	609	qualifying grantees prior to January of the year in which the
610	610	grants would be made;
611	611	(3) contents of the application, including an
612	612	independent evaluation of the:
613	613	(a) financial and management stability
614	614	of the applicant;
615	615	(b) demonstrated commitment of the
616	616	applicant to the community;
617	617	(c) cost-benefit analysis of the project
618	618	proposed by the applicant;
619	619	(d) benefits to the community of a
620	620	proposed project;
621	621	(e) type or amount of assistance to be
622	622	provided;
623	623	(f) scope of the affordable housing
624	624	project;
625	625	(g) substantive or matching contribution
626	626	by the applicant to the proposed project; and
627	627	(h) performance schedule for the
628	628	qualifying grantee with performance criteria;
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657	657	(4) a requirement for long-term affordability
658	658	of a state, county or municipal project so that a project
659	659	cannot be sold shortly after completion and taken out of the
660	660	affordable housing market;
661	661	(5) a requirement that a grant for a state or
662	662	local project must impose a contractual obligation on the
663	663	qualifying grantee that the housing units in a state or local
664	664	project developed pursuant to the Affordable Housing Act be
665	665	occupied by low- or moderate-income households;
666	666	(6) provisions for adequate security against
667	667	the loss of public funds or property in the event that a
668	668	qualifying grantee defaults on a contractual obligation for the
669	669	project or abandons or otherwise fails to complete a project;
670	670	(7) a requirement for review and approval of a
671	671	housing grant project budget by the grantor before any
672	672	expenditure of grant funds or transfer of granted property;
673	673	(8) a requirement that, unless the period is
674	674	extended for good cause shown, the authority shall act on an
675	675	application within forty-five days of the date of receipt of an
676	676	application that the authority deems to be complete and, if not
677	677	acted upon, the application shall be deemed approved;
678	678	(9) a requirement that a condition of grant
679	679	approval be proof of compliance with all applicable state and
680	680	local laws, rules and ordinances;
681	681	(10) provisions defining "low- and moderate-
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710	710	income" and setting out requirements for verification of income
711	711	levels;
712	712	(11) a requirement that a county or
713	713	municipality that makes a housing assistance grant shall have
714	714	an existing valid affordable housing plan or housing elements
715	715	contained in its general plan;
716	716	(12) a requirement that the governmental
717	717	entity enter into a contract with a qualifying grantee
718	718	consistent with the Affordable Housing Act, which contract
719	719	shall include remedies and default provisions in the event of
720	720	the unsatisfactory performance by the qualifying grantee; and
721	721	(13) provisions necessary to ensure the timely
722	722	sale of an affordable housing project on which a qualifying
723	723	grantee has defaulted on a contractual obligation or abandoned
724	724	or otherwise failed to complete.
725	725	D. The rules adopted by the authority pursuant to
726	726	Paragraph (13) of Subsection C of this section shall require a
727	727	governmental entity to:
728	728	(1) make a determination that the property is
729	729	not marketable for a price that would sufficiently recover the
730	730	public funds invested in the project;
731	731	(2) ascertain that the property has a title
732	732	that has been transferred to the contracting governmental
733	733	entity through a foreclosure sale, a transfer of title by deed
734	734	in lieu of foreclosure or any other manner;
735	735	.230861.1
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763	763	(3) exercise reasonable efforts to ensure that
764	764	all proceeds from the sale of a property pursuant to Paragraph
765	765	(13) of Subsection C of this section are used solely for
766	766	purposes pursuant to the Affordable Housing Act and that the
767	767	qualifying grantee that held title to the property shall not
768	768	benefit from the sale of the property or from the transfer of
769	769	the affordable housing project; and
770	770	(4) provide the terms for:
771	771	(a) the sale of the property at fair
772	772	market value; and
773	773	(b) the removal of the contractual
774	774	obligation requiring long-term occupancy of the property by
775	775	low- or moderate-income households."
776	776	SECTION 6. A new section of the Affordable Housing Act is
777	777	enacted to read:
778	778	"[NEW MATERIAL] CREDITWORTHINESS ASSISTANCE FUND--
779	779	CREATED.--The "creditworthiness assistance fund" is created in
780	780	the authority. The fund consists of distributions, gifts,
781	781	grants, donations and income from investment of the fund.
782	782	Money remaining in the fund at the end of a fiscal year shall
783	783	not revert to any other fund. The authority shall administer
784	784	the fund, and money in the fund shall be used to provide
785	785	creditworthiness assistance grants pursuant to Section 2 of
786	786	this 2025 act and to pay the administrative costs of the
787	787	authority in carrying out that section."
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816	816	SECTION 7. APPROPRIATION.--Two hundred fifty thousand
817	817	dollars ($250,000) is appropriated from the general fund to the
818	818	department of finance and administration for expenditure in
819	819	fiscal year 2026 and subsequent fiscal years to contract with
820	820	the New Mexico mortgage finance authority to administer the
821	821	creditworthiness assistance fund. Any unexpended or
822	822	unencumbered balance remaining at the end of a fiscal year
823	823	shall not revert to the general fund.
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