State, county, municipalities, instrumentalities of the state and the authority; authorization for affordable housing.

1. Law
2. New Mexico Statutes
3. Public Finances
4. Affordable Housing Act
5. State, county, municipalities, instrumentalities of the state and the authority; authorization for affordable housing.

The state, including any agency or instrumentality of the state, or a county, a municipality or the authority may:

A. donate, provide or pay all, or a portion, of the costs of land for the construction on the land of affordable housing;

B. donate, provide or pay all or a portion of the costs of conversion or renovation of existing buildings into affordable housing;

C. provide or pay the costs of financing or infrastructure necessary to support affordable housing projects; or

D. provide or pay all or a portion of the costs of acquisition, development, construction, financing, operating or owning affordable housing.

History: Laws 2004, ch. 104, § 5; 2007, ch. 49, § 2; 2015, ch. 69, § 5.

ANNOTATIONS

The 2015 amendment, effective July 1, 2015, authorized instrumentalities of the state to provide for affordable housing; in the catchline, after "municipalities", added "instrumentalities of the state"; and in the introductory sentence, after "The state", added "including any agency or instrumentality of the state, or".

The 2007 amendment, effective June 15, 2007, permitted governmental entities to donate land and buildings and pay the cost of affordable housing.

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