SB 216 — NMFA AFFORDABLE HOUSING PROJECTS

SENATEAN BILLACT 216RELATING 56THTO LEGISLATUREFINANCE; - STATEOFNEWMEXICO- SECOND SESSION , 2024 INTRODUCED BY Nancy Rodriguez This document may incorporate amendments proposed by a committee, but not yet adopted, as well as amendments that have been adopted during the current legislative session.

TheAMENDING documentTHE isNEW aMEXICO toolFINANCE toAUTHORITY showACT amendmentsTO inPROVIDE contextFINANCING andFOR cannotAFFORDABLE beHOUSING usedPROJECTS; for the purpose of adding amendments to legislation.

hAMENDING ANTHE ACTDEFINITIONS gOF o"PUBLIC RELATINGPROJECT" TOAND FINANCE;"QUALIFIED ENTITY";

AMENDING THE NEWLOCAL MEXICOGOVERNMENT FINANCEPLANNING AUTHORITYFUND tTO hrPROVIDE gFINANCING eFOR iTHE kPURPOSES ACTOF TODEVELOPING PROVIDEAFFORDABLE FINANCINGHOUSING FORPLANS AFFORDABLEAND HOUSINGFLOOD PROJECTS;INUNDATION MAPS AND OBTAINING ARCHAEOLOGICAL CLEARANCES.

hBE rIT iENACTED sBY AMENDING THE DEFINITIONSLEGISLATURE OF "PUBLICTHE PROJECT"STATE ANDOF "QUALIFIEDNEW hMEXICO: , t, ENTITY";

AMENDING THE LOCAL GOVERNMENT PLANNING FUND SHPACº TO e u g e b l e e h PROVIDE FINANCING FOR THE PURPOSES OF DEVELOPING AFFORDABLE n d d i = = o h HOUSING PLANS AND FLOOD INUNDATION MAPS AND OBTAINING l ] b ,d i a º e ARCHAEOLOGICAL CLEARANCES»SHPAC .

r i = r t e w d m a n o d m :

b e d s º o t n = .227475.1AIC February 6, 2024 (12:29pm) s k m e e a n e d r e l u [ A d BE IT ENACTED BY THE LEGISLATURE OF THE STATE OF NEW MEXICO:

(1) made necessary by an unforeseen occurrence or circumstance threatening the public health, SB 216 safety or welfare;

and Page 1 (2) requiring the immediate expenditure of h g money that is not within the available financial resources of o t hr the qualified entity as determined by the authority;

g e i k E.

"public project" means the acquisition, h r i s h construction, improvement, alteration or reconstruction of , t, e u g assets of a long-term capital nature by a qualified entity, e b l e e h including land;

water, sewerage and n d d i = = o h waste disposal systems;

housinghousing; ;

municipal l ] b ,d i a º e r i = r utilities;

public t e w d m a n o transportation systems;

and machinery, dfurniture mand :equipment.

b e d s º o t n = .227475.1AIC February 6, 2024 (12:29pm) s k m e - 2 - e a n e d r e l u [ A d furniture and equipment.

"qualified entity" means the state or an agency or institution of the state or a county, municipality, school district, two-year public post-secondary educational institution, charter school, land grant corporation, acequia association, public improvement district, federally chartered college located in New Mexico, intercommunity water or natural gas supply association or corporation, special water, drainage, irrigation or conservancy district or other special district created pursuant to law, nonprofit foundation or SB 216 Page 2 other support organization affiliated with a public university, college or h other higher educational institution located in New Mexico, u » r including a university research park corporation, a nonprofit t h g e l i housing developer, an Indian nation, tribe or pueblo located h r i s wholly or partially in New Mexico, including a political h , e h subdivision or a wholly owned enterprise of an Indian nation, t u g e b l e e , gh tribe or pueblo or a consortium of those Indian entities or a n d d i = = o h consortium of any two or more qualified entities created l ] b ,d i a º r pursuant to law;

and e r = t e w d m a n o G.

"security" or "securities", unless the context dindicates motherwise, :means bonds, notes or other evidence of indebtedness issued by a qualified entity or leases or certificates or other evidence of participation in the lessor's interest in and rights under a lease with a qualified entity and that are payable from taxes, revenues, rates, charges, assessments or user fees or from the proceeds of funding or refunding bonds, notes or other evidence of indebtedness of a qualified entity or from certificates or evidence of participation in a lease with a qualified entity." SECTION 2.

b r e t º o t n = .227475.1AIC February 6, 2024 (12:29pm) s k m e - 3 - e a n e d r e l u [ A d indicates otherwise, means bonds, notes or other evidence of indebtedness issued by a qualified entity or leases or certificates or other evidence of participation in the lessor's interest in and rights under a lease with a qualified entity and that are payable from taxes, revenues, rates, charges, assessments or user fees or from the proceeds of funding or refunding bonds, notes or other evidence of indebtedness of a qualified entity or from certificates or evidence of participation in a lease with a qualified entity." SECTION 2.

The "local government planning fund" is created SB 216 Page 3 within the authority and shall be administered by the authority.

The authority shall adopt rules necessary to h administer the fund.

u » r B.

The following shall be deposited directly into t h g e l i the local government planning fund:

h r i s (1) the net proceeds from the sale of bonds h , e h issued pursuant to the provisions of Section 6-21-6.1 NMSA 1978 t u g e b l e e , gh for the purposes of the local government planning fund and n d d i = = o h payable from the public project revolving fund;

l ] b ,d i a º r (2) money appropriated by the legislature to e r = t e w d m a n o implement the provisions of this section;

and d(3) many :other public or private money dedicated to the fund.

b r e t º o t n = .227475.1AIC February 6, 2024 (12:29pm) s k m e - 4 - e a n e d r e l u [ A d (3) any other public or private money dedicated to the fund.

to evaluate and to estimate the costs of implementing the most feasible alternatives for infrastructure, water and wastewater public project needs or to develop water conservation plans, long-term master plans, economic development plans, affordable housing plansplans, SHPACºor»SHPAC SHPACº,»SHPAC energy audits SHPACºoror flood inundation maps;

to obtain archaeological clearances»SHPACclearances; ;

The authority shall adopt rules governing the terms and conditions of grants made from the local government SB 216 Page 4 planning fund.

The authority may make grants from the local h government planning fund to qualified entities without specific u » r authorization by law for each grant." tSB h216 gPage e l i - 5 -6 h8 r25 i s h , e h t u g e b l e e , gh n d d i = = o h l ] b ,d i a º r e r = t e w d m a n o d m :

b r e t º o t n = .227475.1AIC February 6, 2024 (12:29pm) s k m e e a n e d r e l u [ A d