Legislative News

Addressing New Mexico’s Housing Crisis through Legislation

February 9, 2023

Hello GAAR Family,

As we approach the upcoming mid-point of the 2023 New Mexico Legislative Session, we are focusing this week on a few of the bills that could have a positive impact on creating affordable housing opportunities for all New Mexicans.
 
The following legislation has been reviewed by the NMAR Legislative Committee, which is made up of REALTORS® statewide. After review, we are proud to support the following bills that will address the current housing crisis, support housing for all, and create significant improvements to our state and industry, as well as to the daily lives of our friends, families, and neighbors.
 
Click on the bill number to view committee assignments, analyses, and a full draft of each bill.

• SB 139  - Services for Homeless People - SUPPORT
  Proposed legislation would allocate $20 million from the General Fund to the Human Services Department to create a program that provides unhoused individuals with access to supportive housing, substance use, and behavioral health services. By addressing various factors of the unhoused populations, including mental health and substance abuse needs, while providing housing, we can begin to address the growing issues facing vulnerable populations across the state.
   
• SB 140 – NM Housing Trust Fund - SUPPORT
  Proposed legislation would allocate a $48 million non-recurring expense from the General Fund to the New Mexico Housing Trust Fund to help New Mexicans access quality, affordable housing. Currently, New Mexico has a deficit of 32,000 homes for low-income renters statewide, according to the New Mexico Mortgage Finance Authority (MFA). With the funding proposed in SB 140, MFA estimates the availability of approximately 2,500 homes to address this shortage.
   
• SB 281 – Independent Construction Inspectors - SUPPORT
  Proposed legislation would amend the Construction Industries Licensing Act to establish a program for certification of independent contractors, in which independent contractors will have the same authority as state-certified inspectors. Additionally, SB 281 proposes a timeframe of seven days for inspections to take place, which would serve to alleviate the burden of delayed home inspections and make the home buying process easier for buyers, sellers, and REALTORS®.
   
• SB 286 – Discriminatory Restrictive Covenants - SUPPORT
  Proposed legislation would void unlawful discriminatory and restrictive covenants, as well as prohibit gender-specific language from instruments affecting the transfer of real property. SB 286 aims to decrease discrimination and make property transfers more inclusive and accessible while protecting the rights of all New Mexicans to rent, buy or sell real property. 

We encourage you to keep an eye on the progress of these important bills and if you have any questions, please send me an email at Kent@GAAR.com.

To view a complete list of legislation the NMAR's Legislative Committee is monitoring, click here.

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Celebrate the Land of Enchantment

 
Join us in celebrating the incredible place we all live, work, and play—the Land of Enchantment. As we keep you informed throughout the session, we invite you to brush up on our state’s history and culture with the help of the Secretary of State’s New Mexico Blue Book.  
 
This week, we’re celebrating New Mexico’s official state question—“Red or Green?” Paying homage to our iconic cash crop of red and green chile, the question is one asked at restaurants across the state daily, and one many New Mexicans are accustomed to answering on the spot. The question was adopted by the New Mexico State Legislature in 1996 and aims to recognize the financial gain and fame that chile brings to the state.
 
We can’t think of a more delicious way to celebrate your New Mexico pride than heading to a local restaurant, answering the state question, and enjoying a dish prepared with locally grown chile, Red or Green! Or maybe Christmas!