New Mexico legislation · 2026 Regular Session
New Mexico HB176: CREATE ZERO INTEREST DOWN PAYMENT LOAN FUND
Status: In committee, January 27, 2026
What the bill says
An act relating to housing; creating the zero interest down payment loan fund for first-time home buyers; changing certain distributions made to the early childhood education and care fund, the behavioral health trust fund and the medicaid trust fund to be made to the zero interest down payment loan fund; making an appropriation.
From the introduced text, January 27, 2026:
AN ACT RELATING TO HOUSING; CREATING THE ZERO INTEREST DOWN PAYMENT LOAN FUND FOR FIRST-TIME HOME BUYERS; CHANGING CERTAIN DISTRIBUTIONS MADE TO THE EARLY CHILDHOOD EDUCATION AND CARE FUND, THE BEHAVIORAL HEALTH TRUST FUND AND THE MEDICAID TRUST FUND TO BE MADE TO THE ZERO INTEREST DOWN PAYMENT LOAN FUND; MAKING AN APPROPRIATION. BE IT ENACTED BY THE LEGISLATURE OF THE STATE OF NEW MEXICO: SECTION 1. Section 6-4-27 NMSA 1978 (being Laws 2020, Chapter 3, Section 4, as amended) is amended to read: "6-4-27. EXCESS EXTRACTION TAXES SUSPENSE FUND--TRANSFER OF EXCESS OIL AND GAS EMERGENCY SCHOOL TAX REVENUE--TAX STABILIZATION RESERVE--[EARLY CHILDHOOD EDUCATION AND CARE FUND--BEHAVIORAL HEALTH TRUST FUND] ZERO INTEREST DOWN PAYMENT LOAN FUND--SEVERANCE TAX PERMANENT FUND.-- .233090.1 wen = lairetam derocsrednu eteled = ]lairetam detekcarb[ A. The "excess extraction taxes suspense fund" is created as a nonreverting fund in the state treasury. Money in the fund shall only be used to make transfers by the department of finance and administration as required by this section. B. At the end of each fiscal year, the department of finance and administration shall calculate and transfer the balance of the fund attributable to that fiscal year as follows: (1) if in the current fiscal year the total net receipts attributable to the tax imposed pursuant to Section 7-31-4 NMSA 1978 and …
Sponsors
- Alan T. Martinez (R, HD-023) · primary sponsor
- Rebecca Dow (R, HD-038)
- Jonathan A. Henry (R, HD-054)
Latest actions
- : Sent to HCEDC - Referrals: HCEDC/HAFC
- : Action Postponed Indefinitely
Subjects: PROPERTY (conservancy districts, land grants, real estate), FINANCIAL INSTITUTIONS, FINANCE, PUBLIC
Common questions
- What is HB176?
- HB176 is a bill in the New Mexico Legislature (2026 Regular Session): CREATE ZERO INTEREST DOWN PAYMENT LOAN FUND.
- What does HB176 do?
- In its own words: An act relating to housing; creating the zero interest down payment loan fund for first-time home buyers; changing certain distributions made to the early childhood education and care fund, the behavioral health trust fund and the medicaid trust fund to be made to the zero interest down payment loan fund; making an appropriation.
- What is the status of HB176?
- In committee as of January 27, 2026. Latest action: Sent to HCEDC - Referrals: HCEDC/HAFC (January 27, 2026).
- Who sponsored HB176?
- Alan T. Martinez (R, HD-023), with 2 co-sponsors.
- Where is the official record for HB176?
- On the New Mexico Legislature website: https://www.nmlegis.gov/Legislation/Legislation?chamber=H&legType=B&legNo=176&year=26
Source: official New Mexico record. Tracked by Delilah, AI for legislation across all 50 states and Congress.