HOAMCO Legislative Update: Senate Bill 150
HOAMCO is committed to advocating for our client communities and keeping our board members apprised of any legislative actions that may impact Associations and how they function. To that end, we want to bring to your attention Senate Bill 150.
You may recall that in the 2017 New Mexico Legislative Session, Senate Bill 244 and House Bill 374 (identical) passed both chambers with near unanimous support, but were ultimately vetoed by the then governor. Senator Mimi Stewart who has shown herself to be a longtime advocate for homeowners has re-introduced that legislation this session as Senate Bill 150. The bill has been heard by the Senate Judiciary Committee and has passed on the Senate floor with no opposition. The bill was also recently heard by the House Judiciary Committee and was given a “Do Pass” recommendation, and was subsequently passed by the House. The bill will now proceed to the Governor’s desk, where it seems likely that she will sign it into law.
HOAMCO will continue to monitor the progress of this bill, and if signed by Governor Lujan Grisham, we will provide educational opportunities regarding all aspects of this legislation and also how we will work alongside our boards of directors towards implementation with the least impact to your association.
HOAMCO will continue our commitment to keeping you apprised of any HOA or Condominium legislation that may arise in the future.
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