NONPROFIT AGREEMENTS WITH DEPT. OF DEFENSE

SB 162 allows regional housing authorities in New Mexico to create nonprofit corporations that can enter agreements with the U.S. Department of Defense. These nonprofits may handle property-related work - like leasing, building, or managing facilities - both inside and outside New Mexico, under federal law (10 U.S.C. § 2679). All income from these agreements must directly support the regional housing authority’s affordable housing goals. The bill amends state law to authorize this, ensuring nonprofits follow the same duties as the housing authorities that create them.