The "land title trust fund" is created. The New Mexico mortgage finance authority shall be the trustee for the fund. The trustee shall deposit in the fund money received by it pursuant to the Low-Income Housing Trust Act [58-18B-1 to 58-18B-10 NMSA 1978].
History: Laws 1997, ch. 118, § 3; 1999, ch. 41, § 5.
ANNOTATIONSThe 1999 amendment, effective July 1, 1999, added the last sentence.
Appropriations. — Laws 1999, ch. 41, § 7, effective July 1, 1999, provides that on July 1, 1999, the balance in the low-income housing trust fund shall be transferred and deposited in the land title trust fund.