HB192 • 2026

NO FOREIGN CORPORATION PURCHASE OF HOMES

Did Not Pass

The latest official action shows that this bill did not move forward in that session.

Sponsor: Representative Catherine J. Cullen, Representative Rod Montoya
Last action
Official status: [2] not prntd-HRC API.
Effective date: Not listed

Plain English Breakdown

Using official source text because the generated explanation was unavailable or could not be confirmed against the official bill text.

NO FOREIGN CORPORATION PURCHASE OF HOMES

What This Bill Does

NO FOREIGN CORPORATION PURCHASE OF HOMES

Limits and Unknowns

This entry is temporarily using official source text because the generated explanation could not be confirmed against the official bill text during the last sync.

Bill History

2026-01-27 New Mexico Legislature
Not Printed
New Mexico Legislature
Action Postponed Indefinitely

Official Summary Text

NO FOREIGN CORPORATION PURCHASE OF HOMES

Current Bill Text

Read the full stored bill text

HB0192

HOUSE BILL 192

57th legislature - STATE OF NEW MEXICO - second session, 2026

INTRODUCED BY

Rod Montoya
and
Catherine J. Cullen

AN ACT

RELATING TO HOUSING; PREVENTING FOREIGN CORPORATIONS FROM
PURCHASING A SINGLE-FAMILY RESIDENTIAL PROPERTY AS AN
INVESTMENT RENTAL PROPERTY WITHIN THE STATE.

BE IT ENACTED BY THE LEGISLATURE OF THE STATE OF NEW MEXICO:

SECTION 1.
[
NEW MATERIAL
] PROHIBITED TRANSACTIONS.--Prior
to July 1, 2036, a foreign corporation, including an in-state
subsidiary of a foreign corporation, shall not purchase a
single-family residential property for the purpose of making
the single-family residential property an investment rental
property in the state. As used in this section, "foreign
corporation" means a corporation that is organized under the
laws of another state or a foreign country.

.233144.2