The proposed bill establishes the Office of Housing Planning and Production in New Mexico, which will be administratively attached to the Department of Finance and Administration. The office aims to address housing issues by reducing costs, increasing availability, and maximizing resources for low-income and homeless households. It will also focus on developing partnerships among state agencies and local stakeholders, providing technical assistance, and aligning resources to enhance housing development and services. The director of the office will be appointed by the governor and will have the authority to employ necessary staff to fulfill the office's objectives.

Additionally, the office is tasked with collecting and reporting data on housing and land use, evaluating housing market conditions, and identifying gaps in availability and services. It will analyze regulatory frameworks, construction costs, and promote innovative housing solutions. The bill emphasizes the importance of collaboration and accountability in meeting housing needs across various income levels, and it declares an emergency for the act to take effect immediately for the public's peace, health, and safety.