New Mexico § 58-18-5.5 Additional powers of authority; authority designated as

New Mexico Statutes

§ 58-18-5.5 — Additional powers of authority; authority designated as

New Mexico § 58-18-5.5

Ch. 58Financial Institutions and Regulations

Art. 18Mortgage Finance Authority

This text of New Mexico § 58-18-5.5 (Additional powers of authority; authority designated as) is published on Counsel Stack Legal Research, covering New Mexico primary law. Counsel Stack provides free access to over 12 million legal documents including statutes, case law, regulations, and constitutions.

Bluebook

N.M. Stat. Ann. § 58-18-5.5 (2026).

Text

single state housing authority; application for and receipt of federal funds; administration of housing programs. In addition to the powers granted the authority pursuant to Sections 58-18-5 and 58- 18-5.3 NMSA 1978, the authority: A. is designated as the state housing authority for all purposes; B. shall make application for federal housing funds and programs; C. shall administer federal and state housing programs and federal tax credit provisions associated with those programs; D. shall receive and expend funds pursuant to applicable federal housing laws, federal housing regulations, the provisions of the Mortgage Finance Authority Act and regulations adopted pursuant to that act; E. shall administer the following housing programs that were previously transferred to it by executive order

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single state housing authority; application for and receipt of federal funds; administration of housing programs. In addition to the powers granted the authority pursuant to Sections 58-18-5 and 58- 18-5.3 NMSA 1978, the authority: A. is designated as the state housing authority for all purposes; B. shall make application for federal housing funds and programs; C. shall administer federal and state housing programs and federal tax credit provisions associated with those programs; D. shall receive and expend funds pursuant to applicable federal housing laws, federal housing regulations, the provisions of the Mortgage Finance Authority Act and regulations adopted pursuant to that act; E. shall administer the following housing programs that were previously transferred to it by executive order, the provisions of which are ratified: (1) the federal HOME program; (2) the federal low-income housing tax credit program; (3) the federal emergency shelter grant programs; (4) the state homeless program; (5) the federal and state weatherization programs and that part of the low- income home energy assistance program authorized for weatherization; and (6) the state safe water program; F. shall assist with technical consultation in connection with housing components of the community service block grant and community development block grant programs that are administered by the human services department [health care authority department] and the department of finance and administration, respectively; and G. shall not receive direct appropriations of state funds from the legislature, and, if a program for which the authority is granted the power and has the duty to administer involves the appropriation or expenditure of state funds, the authority is granted specific power to enter into a joint powers agreement with the department of finance and administration pursuant to the Joint Powers Agreements Act [11-1-1 to 11-1-7 NMSA 1978].