Housing (Property Development)

This bill would revise New Mexico's zoning laws to allow apartment buildings in areas currently zoned for commercial use, permit duplexes and townhouses in single-family residential zones, and let small businesses (like shops or cafes) operate in residential neighborhoods. It removes restrictions on building height and story count, prohibits minimum parking requirements for new developments (except for accessible parking), and requires local governments to adopt these changes. The law directly affects cities and counties by changing how they approve housing and mixed-use projects, impacting developers, property owners, and residents seeking more housing options.

SB 128, the Public Land Disclosure and Accountability Act, requires public agencies (such as school districts and state universities) to report every two years on vacant or underutilized land they own in metropolitan areas that has been unused for five years or more. Agencies must disclose if they have no plan to use such land, and non-county/municipality agencies must sell it under this requirement. Buyers of these properties must begin development within 12 months or risk losing the land with a full refund. The state will maintain a public database of all reports to increase transparency about public land use.

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.

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.

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.