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2005 vol. II 1027 (2005)

handle is hein.ssl/ssnm0013 and id is 1 raw text is: Chapter 105 1 AN ACT 2 RELATING TO HOUSING; ENACTING THE NEW MEXICO HOUSING TRUST 3 FUND ACT; CREATING THE NEW MEXICO HOUSING TRUST FUND; 4 CREATING AN ADVISORY COMMITTEE; PROVIDING CERTAIN POWERS TO 5 THE NEW MEXICO MORTGAGE FINANCE AUTHORITY; AMENDING AND 6 ENACTING SECTIONS OF THE NMSA 1978; MAKING AN APPROPRIATION. 7 8 BE IT ENACTED BY THE LEGISLATURE OF THE STATE OF NEW MEXICO: 9 Section 1. SHORT TITLE.--Sections I through 9 of this 10 act may be cited as the New Mexico Housing Trust Fund Act. 11 Section 2. PURPOSE.--The purpose of the New Mexico 12 Housing Trust Fund Act is to provide flexible funding for 13 housing initiatives in order to produce significant 14 additional housing investment in the state. 15 Section 3. DEFINITIONS.--As used in the New Mexico 16 Housing Trust Fund Act: 17 A. affordable housing means residential housing 18 primarily for persons or households of low or moderate 19 income; 20 B. authority means the New Mexico mortgage 21 finance authority; 22 C. committee means the New Mexico housing trust 23 fund advisory committee; 24 D. fund means the New Mexico housing trust fund; 25 E. persons of low or moderate income means Senate Bill 115, aa Approved April 4, 2005 Chap. 105 Laws of 2005 1027