HB 24 — PROFESSIONAL RECRUITMENT AND RETENTION ACT

HOUSE BILL 24 57TH LEGISLATURE-LEGISLATURE STATE OF NEW MEXICO - STATEOFNEWMEXICO- SECOND SESSION,SESSION , 2026 INTRODUCED BY Kathleen Cates and Marianna Anaya and D.

Wonda Johnson 6This 8document 10may ANincorporate ACTamendments RELATINGproposed TOby FINANCE;a committee, but not yet adopted, as well as amendments that have been adopted during the current legislative session.

ENACTINGThe THEdocument PROFESSIONALis RECRUITMENTa ANDtool RETENTIONto ACT;show amendments in context and cannot be used for the purpose of adding amendments to legislation.

PROVIDINGh FORAN PROGRAMACT ADMINISTRATIONg BYo THERELATING NEWTO MEXICOFINANCE; MORTGAGE FINANCE AUTHORITY;

PROVIDINGENACTING LOANSTHE FORPROFESSIONAL SERVICERECRUITMENT TOAND PROFESSIONALSt FORhr EXPENSESg RELATEDe TOi THEk PURCHASERETENTION OFACT; A HOME;

PROVIDING FOR PROGRAM ADMINISTRATION BY THE NEW h r i s MEXICO MORTGAGE FINANCE AUTHORITY;

PROVIDING LOANS FOR SERVICE h , t, TO PROFESSIONALS FOR EXPENSES RELATED TO THE PURCHASE OF A e u g e b l e e h HOME;

PROVIDING n d d i = = o h TERMS FOR REPAYMENT;

l ] b ,d i a º e r i = r t 17e w ld nm da 18n o BE IT ENACTED BY THE LEGISLATURE OF THE STATE OF NEW MEXICO:

=d =m 19: a l SECTION 1.

[NEWb MATERIAL]e SHORTd TITLE.--Thiss actº mayo bet in = .232706.1AIC January 26, 2026 (2:00pm) s k m e e a n e d r 20e citedl asu the[ "ProfessionalA Recruitmentd andSECTION Retention1. Act".

a[NEW tMATERIAL] mSHORT mTITLE.--This 21act SECTIONmay 2.be cited as the "Professional Recruitment and Retention Act".

[NEWSECTION MATERIAL]2. DEFINITIONS.--As used in the d r e 22 Professional Recruitment and Retention Act:

c[NEW eMATERIAL] sDEFINITIONS.--As kused 23in A.the Professional Recruitment and Retention Act:

"authority"A. means the New Mexico mortgage e a n b 24 finance authority;

u"authority" [means B.the New Mexico mortgage finance authority;

"loan"B. means a contract between the authority .232706.1 and a qualified professional to finance the purchase of a home;

"loan" means a contract between the authority and a qualified professional to finance the purchase of a home;

h g (3) a physician licensed pursuant to the o t hr Medical Practice Act;

g e i k (4) a physician assistant licensed pursuant to h r i s h the Physician Assistant Act;

, t, e u g (5) an anesthesiologist assistant licensed e b l e e h pursuant to the Anesthesiologist Assistants Act;

en td 17d i = = o h (6) a psychologist licensed pursuant to the w l n] db 18,d i a º e r i = r Professional Psychologist Act;

=t =e 19w d m a ln o (7) a pharmacist licensed pursuant to the id am e: r 20 Pharmacy Act;

ab e d s º o t mn m= 21.232706.1AIC (8)January an26, occupational2026 therapist(2:00pm) licenseds k m e e a n e d r e 22l pursuantu to[ theA Occupationald TherapyPharmacy Act;

c(8) ean soccupational k 23 (9) a physical therapist licensed pursuant to e a n b 24 the PhysicalOccupational Therapy Act;

u(9) [ (10) a respiratoryphysical caretherapist practitioner licensed .232706.1 - 2 - pursuant to the RespiratoryPhysical CareTherapy Act;

(10) a respiratory care practitioner licensed pursuant to the Respiratory Care Act;

[NEW MATERIAL]MATERIAL ] PROFESSIONAL RECRUITMENT AND RETENTION HOUSING LOAN FOR SERVICE PROGRAM CREATED--LOAN APPLICANT ELIGIBILITY--QUALIFICATIONS.-- A.

The "professional recruitment and retention h housing loan for service program" is created within the g o t hr authority.

The authority may promulgate rules to carry out the g e i k provisions of the Professional Recruitment and Retention Act.

h r i s B.

The authority shall create an account for any h , t, money designated for the program.

Loans for the program shall e u g e b l e e h be provided from the account, and the account may consist of en td 17d i = = o h subaccounts as the authority deems necessary.

w l n] db 18,d i a º e C.

The authority may grant a loan to a qualified =r = 19 a l professional for the down payment or closing costs associated i a= e r 20t withe thew purchased ofm a homen ino Newprofessional Mexico in exchange for the adown tpayment mor mclosing 21costs qualifiedassociated professional practicing in the state for ten years at d rm e: 22 no less than three-fourths of full-time employment.

cb e d s º o t n = .232706.1AIC January 26, 2026 (2:00pm) s k 23m D.e - 3 - e a n e d r e l u [ A d with the purchase of a home in New Mexico in exchange for the qualified professional practicing in the state for ten years at no less than three-fourths of full-time employment.

ApplicationsD. shall be submitted to the authority e a n b 24 on forms provided by the authority and shall include:

uApplications [shall (1)be documentationsubmitted thatto the qualifiedauthority .232706.1on -forms 3provided - professional earns a current annual income that is below one hundred fifty-one percent of the area median income in the county in which the home being purchased is located, adjusted for family size, as determined by the Unitedauthority States department of housing and urbanshall development;include:

(1) documentation that the qualified professional earns a current annual income that is HGEICº equal to or»HGEIC below one hundred HGEICºfifty-one»HGEIC HGEICºfifty»HGEIC percent of the area median income in the county in which the home being purchased is located, adjusted for family size, as determined by the United States department of housing and urban development;

h and g o t hr (4) any other documentation required by the g e i k authority.