Housing

in committee · New Mexico · Senate Mar 24, 2026

SB 114: INVESTMENT OWNERSHIP OF RESIDENTIAL PROPERTY

SB 114 prohibits hedge funds, private equity firms, corporations, and other businesses from purchasing single-family homes in New Mexico. The bill directly affects these investment entities by restricting their ability to buy residential properties, though it exempts limited liability companies (LLCs) organized under New Mexico's Limited Liability Company Act. Key provisions include a clear ban on such purchases for non-LLC businesses, with the LLC exemption being the only exception specified. The bill focuses on limiting corporate ownership of single-family homes without detailing enforcement mechanisms or other exceptions.

Topics ✓ HousingSupports HousingProhibits large investors from buying single-family homes to protect affordability, directly advancing tenant rights and preventing market displacement in housing development.92% confidence

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in committee · New Mexico · House Mar 24, 2026

HB 138: ZONING LOT SIZE REQUIREMENTS

HB 138 prohibits New Mexico counties and municipalities from requiring minimum lot sizes for residential properties. This directly affects local zoning authorities, homebuilders, and homeowners in residential areas by removing a common zoning requirement. The bill includes exemptions for small disability community residences (serving ≤10 people) and traditional historic communities, but otherwise eliminates this zoning standard statewide. It does not address other zoning rules like building height or yard sizes.

Topics ✓ HousingSupports HousingRemoves minimum lot size requirements, enabling denser housing development and increasing housing supply, which directly advances affordable housing access by reducing development barriers.95% confidence

Sub-Topics Zoning

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in committee · New Mexico · House Mar 24, 2026

HB 177: VETERAN SERVICE ANIMAL SERVICES & SHELTER

HB 177 allocates $150,000 from the general fund to New Mexico's Veterans' Services Department to support veterans who need temporary separation from their service or companion animals for housing, medical care, or homelessness services. The bill funds contracted animal boarding, veterinary care, kennel facilities at veteran housing sites, and pet food to prevent veterans from losing access to essential services due to animal separation. This funding is available for fiscal years 2026 and 2027, with any unspent balance reverting to the general fund. The policy directly affects veterans requiring shelter, housing, or medical care that would otherwise require parting with their service animals.

Topics ✓ Budget & TaxesSupports Budget & TaxesAllocates $150,000 from general fund to fund veteran service animal programs, directly increasing government spending on public services.95% confidence ✓ HealthcareSupports HealthcareFunds veterinary care and boarding to maintain service animals for veterans' mental health support, preventing separation during medical/housing needs.85% confidence ✓ HousingSupports HousingFunds services preventing veterans from losing housing access due to service animal separation, directly addressing homelessness and housing stability at veteran sites.90% confidence ✓ VeteransSupports VeteransAllocates $150k to fund service animal support for veterans, preventing loss of housing/medical access due to animal separation.90% confidence

Sub-Topics State Budget Homelessness Veteran Education Veteran Healthcare Veteran Housing

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in committee · New Mexico · Senate Mar 24, 2026

SB 149: PROPERTY TAX CODE DEFINITIONS

SB 149 amends New Mexico's Property Tax Code to clarify the definition of "residential property." It explicitly includes manufactured homes used for permanent habitation as residential property, while excluding temporary structures like hotels and motels. This change directly affects manufactured home owners by classifying their properties under residential tax rates instead of potentially higher nonresidential rates. The bill makes a technical adjustment to tax classification rules without creating new taxes or exemptions.

Topics ✓ Budget & TaxesSupports Budget & TaxesClarifies tax classification to apply lower residential rates to manufactured homes, providing tax relief for owners by preventing higher nonresidential taxation.95% confidence ✓ HousingSupports HousingClarifies tax classification to apply residential rates to manufactured homes, reducing costs for owners and supporting affordable housing access.95% confidence

Sub-Topics Property Tax Property Taxes

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died · New Mexico · House Mar 24, 2026

HB 194: EXPAND METRO REDEVELOPMENT CODE & PROJECTS

HB 194 expands New Mexico's Metropolitan Redevelopment Program to include areas with housing shortages, defined as locations experiencing affordable housing scarcity, rising costs, or low vacancy rates. The bill allows redevelopment projects in these areas to include qualifying multifamily housing and exempts such properties from property taxation for up to 20 years. This directly affects developers and property owners building or maintaining affordable housing in designated shortage areas. The policy aims to increase housing supply by reducing financial barriers for developers in regions with critical housing needs.

Topics ✓ Budget & TaxesSupports Budget & TaxesExempts affordable housing projects from property tax for 20 years, providing direct tax relief to promote housing development in shortage areas.95% confidence ✓ HousingSupports HousingExpands redevelopment to housing shortage areas, exempts multifamily housing from property taxes for 20 years, directly advancing affordable housing development through financial incentives.95% confidence

Sub-Topics Tax Incentives Affordable Housing Property Development Property Taxes

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in committee · New Mexico · House Mar 24, 2026

HB 17: ACCESSORY DWELLING UNITS IN CERTAIN AREAS

HB 17 allows homeowners in New Mexico to build accessory dwelling units (ADUs), such as small apartments or cottages on the same property as a primary residence, in residential zoning districts. The bill requires local governments to permit at least one ADU per residential lot without imposing owner-occupancy rules, extra fees, or more than one parking space per unit. It also permits multifamily housing (like duplexes) in commercial districts and areas near public transit stops or rail stations. ADUs must be independent living units with separate entrances, cooking, and sanitation facilities, and cannot exceed 1,000 square feet in size. This law aims to increase housing options by streamlining the process for adding secondary units to existing properties.

Topics ✓ HousingSupports HousingEnables ADUs and multifamily housing in designated areas, increasing housing supply without restrictive fees or occupancy rules, directly advancing affordable housing development.95% confidence

Sub-Topics Zoning

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in committee · New Mexico · House Mar 24, 2026

HB 131: PLANNING BUREAU IN EDD

HB 131 establishes a new Planning Bureau within New Mexico's Economic Development Department to coordinate state land, facility, and resource use for growth and development. The bureau must create a comprehensive state development plan every three years, focusing on job/housing/transportation needs and collaboration with agencies like Transportation, Environment, housing authorities, and Native nations (upon request). It requires ongoing coordination with local governments and regional planning bodies, and includes a $1 million annual appropriation for staffing. The bill directly affects state agencies, local governments, and Native nations by mandating structured planning collaboration.

Topics ✓ HousingSupports HousingBill mandates comprehensive state development plans to explicitly address housing needs, collaborate with housing authorities, and coordinate housing-focused growth planning.85% confidence

Sub-Topics Land Use Property Development Tags Economic Development

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in committee · New Mexico · Senate Mar 24, 2026

SB 138: REPEAL RENT CONTROL PROHIBITION

SB 138 repeals a state law that has prohibited New Mexico cities and towns from enacting rent control on privately owned housing. This bill directly affects local governments, removing a legal barrier that has prevented them from creating rent control policies since 1991. The key mechanism is the repeal of Section 47-8A-1 NMSA 1978, which previously banned municipalities from passing such ordinances. If passed, this would allow cities and towns to develop their own rent control rules for private rental properties.

Topics ✓ HousingSupports HousingRepeals prohibition on local rent control, enabling tenant protections and affordable housing policies through municipal ordinances.90% confidence

Sub-Topics Landlords Renters Tenant Rights

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died · New Mexico · House Mar 24, 2026

HB 251: NEW HOMES DEVELOPMENT PROGRAM

HB 251 creates the New Homes Development Program under New Mexico's Mortgage Finance Authority to provide homebuyer assistance. It offers up to $10,000 per qualifying homebuyer to purchase a newly occupied home (with a certificate of occupancy issued within 12 months) through direct disbursement at the time of purchase. The program requires annual reporting starting in 2027 on grants awarded and program recommendations, and appropriates $30 million from the general fund for fiscal years 2027-2029, with unused funds reverting to the general fund by 2029. This directly affects first-time homebuyers meeting eligibility criteria who purchase recently built homes in New Mexico.

Topics ✓ Budget & TaxesSupports Budget & TaxesBill appropriates $30 million from general fund for homebuyer program, directly funding state budget initiative under fiscal management.95% confidence ✓ HousingSupports HousingFunds homebuyer assistance via $30M program for new home purchases, directly increasing affordable housing access through direct grants to qualifying buyers.95% confidence

Sub-Topics State Budget Homeownership Housing Finance Property Development

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in committee · New Mexico · House Mar 24, 2026

HB 176: CREATE ZERO INTEREST DOWN PAYMENT LOAN FUND

HB 176 creates a new "Zero Interest Down Payment Loan Fund" in New Mexico to provide first-time homebuyers with zero-interest loans covering up to 20% of a home's purchase price. The fund will be financed by redirecting specific state revenues - excess oil and gas tax receipts and federal Mineral Leasing Act funds - that would previously have gone to the Early Childhood Education and Behavioral Health funds. Starting in 2026, these redirected funds will instead support the loan program, with the first-time homebuyer loans secured by a 30-year mortgage lien (requiring repayment if the property sells before 30 years). The bill modifies existing distribution rules for these revenue streams to prioritize housing affordability for qualifying New Mexico residents.

Topics ✗ Budget & TaxesOpposes Budget & TaxesDefunds Early Childhood Education (essential program) by redirecting oil/gas tax revenues to housing loans, reallocating state budget funds.90% confidence ✓ HousingSupports HousingCreates zero-interest down payment loans for first-time homebuyers, redirecting funds to advance affordable housing access.95% confidence

Sub-Topics Affordable Housing Homeownership Housing Finance

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