AFFORDABLE HOUSING ACT FUNDING

SB 144 appropriates $500,000 from New Mexico's general fund annually starting in fiscal year 2026 to the Department of Finance and Administration. This funding directly supports the Mortgage Finance Authority in implementing the Affordable Housing Act, specifically for affordable housing programs. The bill ensures unspent funds at year-end do not return to the general fund, allowing continued use for housing initiatives. As of June 2025, the bill was postponed indefinitely after passing committee review, meaning the funding has not been enacted.