2007 Legislative Agenda

Contact your legislators and ask that they support the following bills devoted to affordable housing:

Senate Bill 534: Amend the Affordable Housing Act (Rodriguez)

- Amend the Affordable Housing Act pursuant to the passage of Constitutional Amendment 4
- In addition to land, buildings and infrastructure, the state, municipalities and counties will now be able to provide financing for affordable housing activities
- Subsequent to Affordable Housing Act amendment, New Mexico Mortgage Finance Authority (MFA) will amend Affordable Housing Act Rules and Regulations

House Bill 267: Emergency Repair Fund Appropriation $2 million (Gonzales)

- Repair and replacement of roofs and accessibility modifications for physically impaired individuals as well as emergency repairs
- Easier for community based organizations to manage due to federal restriction of their funds

Senate Bill 114: Weatherization Assistance Program Appropriation (Martinez)

- MFA has identified approximately 40,000 homes that are eligible for WAP
- MFA’s partners successfully weatherized 2,400 homes with $4.3 million last year
- Requests an additional $1 million
- MFA leverages funds with Federal WAP funding ($1.5 million) and LIHEAP funding

Senate Bill 695: Re-Evaluation of Property (Boitano)

- Current re-evaluation laws negatively impact first time homebuyer and those with lowest incomes
- Drastic changes in property taxes will lead to increased foreclosures as the new tax rate is unpredictable
- Re-evaluated assessments pose a significant barrier to affordable housing in all communities
- Successful homeownership provides more stability to local government tax base.

Not Yet Announced: Construction Materials Sales Tax Exemption Bill for Low Income Homeownership
(Robinson)

- Will exempt non-profit affordable housing organizations from paying gross receipts taxes on the materials for their homes
- Helps keep home prices under control and qualifies additional families for homeownership through lower prices
- Leverages non-profit donations to develop additional units
- Estimated Fiscal Impact below $200,000 in lost tax revenue to the state
- DOES NOT APPLY FOR MULTI-FAMILY UNITS OR OFFICE SPACES FOR NONPROFITS

Habitat also supports the Governor’s Finance Council Housing Package

Senate Bill 519: Regional Housing Authority Reform (Papen)
- Repeal the existing Regional Housing Authority Act
- Appropriate $2.25 million in funding to DFA for disbursement through a joint powers agreement with MFA over a three-year period.  MFA will adminiser the funding through a public soliciation that will prescribe services tobe provided on a regional basis throughout New Mexico

Senate Bill 282: New Mexico Housing Trust Fund Appropriation $15 million (Rodriguez)
- The New Mexico Housing Trust Fund was created in 2005 and Governor Richardson capitalized the fund with an initial appropriation of $10 million.  The Fund received an additional $1 million during the 2006 legislative session.
- To date, MFA has awarded approximately $10.5 million, which has leveraged over $149 million  in other housing funding and will result in almost 900 housing units throughout New Mexico.
- With the passage of Constitutional Amendment 4, MFA anticipates significantly higher demand because the Housig Trust Fund will be able to fund more than just infrastructure cost components of new housing development.

Not yet introduced: HERO Program Appropriation $2 million (Griego)
- Unveiled in 2005, the Home Equity with Required Occupation or “HERO” Program is designed exclusively for households in which at least one member is a police officer, nurse, teacher, firefighter, or active member of the armed services
- HERO combines below-market rate first and second mortgage products for the purchase of a home (including down payment and closing costs)
- MFA estimates that $2 million will leverage $30 million in below-market mortgage loans and down payment assistance to these targeted professionals

Included in Governor’s Energy Package
Senate Bill 404: Energy Program Appropriation $2.5 million (Feldman)
- Low or no-interest rate loan fund for fixture and appliance upgrades and/or replacement with ENERGY STAR appliances and fixtures, conversion of existing utility systems to solar systems, and other energy efficiency retrofits
- Low or no-interest incentive loans to builders to install energy efficient systems when constructing new and/or rehabilitating existing affordable homes
 
You can help support these bills by sending letters, making phone calls and presentations and/or attending committee hearings.