This 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.

The repeal aims to provide municipalities with the flexibility to address housing affordability and rental market challenges within their jurisdictions. This legislative change reflects a shift towards empowering local governance in managing real estate regulations, potentially leading to varied approaches to rent control across different areas of the state.

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