The "Building Housing Communities Act" aims to enhance New Mexico's housing inventory by designating municipalities that adopt voluntary planning and zoning strategies to improve housing affordability and accessibility. The Department of Finance and Administration is tasked with establishing a program to award certificates to municipalities that implement approved strategies, thereby recognizing them as "building New Mexico communities." The act emphasizes the need for diverse strategies tailored to the unique needs of urban and rural areas, as well as best practices from both local and state governments.

Additionally, the act mandates the department to develop rules that outline effective strategies for increasing housing affordability, which may include reducing regulatory barriers, simplifying jurisdictional reviews, and lowering construction costs. The provisions of this act are set to take effect on July 1, 2027.