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SENATE BILL 349
57
TH LEGISLATURE
-
STATE
OF
NEW
MEXICO
-
FIRST SESSION
,
2025
INTRODUCED BY
Roberto "Bobby" J. Gonzales
AN ACT
MAKING APPROPRIATIONS FOR THE NORTH CENTRAL NEW MEXICO ECONOMIC
DEVELOPMENT DISTRICT.
BE IT ENACTED BY THE LEGISLATURE OF THE STATE OF NEW MEXICO:
SECTION 1. APPROPRIATIONS.--
A. The following amounts are appropriated from the
general fund to the local government division of the department
of finance and administration for expenditure in fiscal year
2026 and subsequent fiscal years for the north central New
Mexico economic development district:
(1) two million dollars ($2,000,000) to
provide grants for housing planning and design to public
entities in the north central New Mexico economic development
district in fiscal year 2026 and subsequent fiscal years; and
(2) thirty-five million dollars ($35,000,000)
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to provide grants to public entities in the north central New
Mexico economic development district for housing construction
and infrastructure in fiscal year 2026 and subsequent fiscal
years.
B. Any unexpended or unencumbered balance remaining
at the end of a fiscal year shall not revert to the general
fund. No more than ten percent of the appropriations shall be
used by the department for administering the grants.
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