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SB 349 New Mexico Senate · 2025 Regular Session

NORTH CENTRAL NM ECONOMIC DEVELOPMENT DIST.

SB 349 proposes $2 million for housing planning/design and $35 million for housing construction/infrastructure grants to public entities within New Mexico's North Central Economic Development District. The bill would provide these funds annually starting in fiscal year 2026, with unspent balances not reverting to the general fund and limited administrative costs. This funding is intended to support housing development in the designated district, though the bill was postponed indefinitely in June 2025 and has not advanced further.
Issues: ✓ Budget & TaxesSupports Budget & TaxesBill allocates $37M annually for housing infrastructure grants, increasing state spending on public development within designated district.90% confidence ✓ HousingSupports HousingBill allocates $37M annually for housing construction/planning grants in designated district, directly advancing housing development through funding.95% confidence
Bill status in committee 1 of 4 stages cleared
Introduction
Feb 2025
Committee Review
Floor Vote
Governor
Introduced Feb 11, 2025 Last action Jun 3, 2025
Floor votes

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Full legislative history

Actions timeline

Total actions
2
Key actions
0
Committee
0
Feb 11, 2025
Introduced
Sent to Senate Tax, Business and Transportation Committee & Senate Finance Committee
upper
1 primary · 0 co-sponsors

Sponsors

Role
Legislator
Party
State
District
P
Photo of Bobby Gonzales
Bobby Gonzales
DDemocratic
NM
6