New Mexico governor signs housing bills into law
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SANTA FE, N.M. (KRQE) – New Mexico Governor Michelle Lujan Grisham has put her signature of approval on several bills that could help fund housing in New Mexico. The proposals were among those passed by state lawmakers during the 2024 legislative session.
House Bill 177, a bipartisan bill approved by lawmakers, is designed to help ensure local governments can match federal funding for a wide range of projects. The governor signed the bill into law on Wednesday.
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“House Bill 177 unlocks billions in federal dollars to support statewide infrastructure and rural development projects that will pay dividends for decades to come,” lead sponsor Rep. Meredith Dixon (D-Carnuel) said in a press release. “This matching fund will be transformational for New Mexico, allowing us to improve our roads and strengthen our communities while creating good-paying jobs along the way.”
The governor also signed House Bill 195 into law. That bill, sponsored by a handful of Democratic lawmakers, expands the use of an existing pool of funds to apply toward housing development projects. The idea, backed by a $125 million investment, is aimed at increasing housing availability in New Mexico.
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“Across the nation, home ownership is becoming unreachable for too many young Americans. HB 195 creates a renewed sense of possibility for New Mexico’s working families, by supporting the development of housing that is actually affordable,” lead sponsor Rep. Linda Serrato (D-Santa Fe) said in a press release. “This investment in young New Mexicans and their families will help our state stabilize our workforce and recruit new talent.”
In addition to the two key funding bills, the governor also signed a handful of other bills that could impact water projects, land conservation, and workforce development. Those bills are:
House Bill 211 (making wastewater projects eligible for funding)
House Bill 148 (letting the New Mexico Finance Authority put funds towards water projects)
Senate Bill 169 (changing eligibility requirements for disbursements from the state’s Land and Water Conservation Fund)
House Bill 28 (expanding the agencies eligible for public project revolving loan fund loans)
House Bill 29 (putting millions toward the public project revolving loan fund)
House Bill 5 (creating a fund for workforce training)
Senate Bill 216 (adding nonprofit housing developers to those eligible for New Mexico Finance Authority funding).
