The bill proposes the repeal of Section 47-8A-1 NMSA 1978, which currently prohibits political subdivisions and home rule municipalities in New Mexico from enacting rent control measures for privately owned real property. By removing this prohibition, the bill allows local governments greater authority to implement rent control policies as they see fit.

This legislative change aims to empower municipalities to address housing affordability and rental market challenges within their jurisdictions. The repeal signifies a shift towards local governance in managing rental properties, potentially leading to varied rent control regulations across different areas of the state.

Statutes affected:
introduced version: 47-8A-1