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 could lead to a variety of local approaches to rent control, potentially impacting tenants and landlords across the state.

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