SB 212 REGIONAL AFFORDABLE HOUSING PLANS

Sen Antonio "Moe" Maestas

Actions: [2] SCC/SHPAC/SFC-SCC

Scheduled: Not Scheduled

 Senate Bill 212 (SB 212) requires regional housing authorities to develop and implement an affordable housing plan for the following five years. 

 Senate Bill 212 enacts a new section of the Regional Housing Law, stating that beginning on  January 1, 2025 and every fifth year thereafter, each regional housing authority must develop an affordable housing plan, which is to include:

•	an assessment of the affordable housing availability in the region; 
•	the projected need for affordable housing in the region for a five-year period; and 
•	strategies to increase the availability of affordable housing based on the projected need by the end of that five-year period. 

By December 1, 2025 and on December 1 of every year thereafter, each regional housing authority must present that region's strategic housing plan and progress to the Mortgage Finance Authority Act oversight committee. 

 There is currently no mandate of this sort within the Regional Housing Law regarding affordable housing. If the bill does not pass, the proposed assessments and strategy development would need to be addressed through other means. 

 House Bill 195 (HB 195) - Housing Fund and Changes
Senate Bill 31 (SB 31) - MFA Affordable Housing Act Funds
Senate Bill 216 (SB 216) - NMFA Affordable Housing Projects