HB453 amends the Affordable Housing Act to establish a creditworthiness assistance program administered by the New Mexico Mortgage Finance Authority, providing grants to cover unpaid rent and damages to rented residential properties. The bill allows grants for land, buildings, or infrastructure to support affordable housing. It also sets requirements for local governments to enact ordinances for housing-assistance grants, and mandates long-term affordability for housing projects.
The New Mexico House of Representatives passed HB453 on March 10, 2025 by a vote of 47 to 16. We have assigned pluses to the nays because this legislation increases government spending and involvement in housing and financial assistance, burdening taxpayers and undermining the free market. HB453’s expansion of state-funded grants and acceptance of federal funds infringes on state sovereignty and encourages dependency on government assistance. Taxpayer money should not be used to fund this program because it increases government spending and bureaucracy, undermining economic freedom and personal responsibility.
