AFFORDABLE HOUSING ACT OVERSIGHT DUTIES

HB 140 appropriates $500,000 from the general fund to the New Mexico Mortgage Finance Authority for ongoing oversight duties required by the Affordable Housing Act. This funding ensures the Authority can monitor and administer existing affordable housing programs without needing annual budget requests. The bill specifies that unspent funds in any fiscal year will not return to the general fund, providing stable, long-term support for oversight. It directly affects the Mortgage Finance Authority, which manages New Mexico's affordable housing programs, by securing dedicated resources for compliance and program management. The bill does not create new housing policies but provides essential funding for existing oversight mechanisms.