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 outlines various strategies that municipalities can adopt, taking into account the unique needs of urban and rural areas, best practices from other jurisdictions, and policies that either promote or hinder affordable housing development.

Additionally, the act mandates the department to create rules that facilitate the implementation of these strategies, which may include simplifying jurisdictional reviews, reducing construction costs, and expanding the types of housing units allowed. The provisions of this act are set to take effect on July 1, 2027.