SB 1 New Mexico Senate · 2025 Regular Session

BEHAVIORAL HEALTH TRUST FUND

SB 1 creates a permanent Behavioral Health Trust Fund in New Mexico's state treasury, funded by a $1 billion transfer from the General Fund. The Trust Fund will invest money and distribute 5% of its average market value annually (starting July 1, 2026) to the Behavioral Health Program Fund. This Program Fund will finance specific services like mental health/substance abuse treatment, infrastructure, workforce support, and regional health plans. The bill directly affects state-funded behavioral health programs and their recipients by establishing a dedicated, ongoing funding source.

Bill status signed all 5 stages cleared

Introduction

Jan 2025

Committee Review

Feb 2025

Senate Passage

Feb 2025

House Passage

Feb 2025

Signed into Law

Feb 2025

Introduced Jan 21, 2025 Signed Feb 28, 2025

Maddy AI version diff · 1 comparison

What changed between versions

introduced version → Final Version · 4 edits

MODERATE

The bill was reformatted and simplified, removing bracketed draft language and underscores while keeping the core provisions intact. The substantive content regarding fund creation, investment rules, reporting requirements, and fund distribution amounts remains unchanged.

TECHNICAL

Removed bracketed text like [NEW MATERIAL] and [bracketed material] = delete, which were editorial markers from the draft version.

Removed underscored text and other markup indicating new or deleted material, leaving only the final clean text.

Removed page numbers and internal tracking numbers (e.g., .228612.2) that were part of the legislative markup process.

Consolidated the bill title and sponsor information into a cleaner format without line number annotations.

Floor votes

How they voted

This bill passed the Senate by voice vote (no roll call recorded).

Full legislative history

Actions timeline

Total actions

Key actions

Committee

Feb 28, 2025

Signed into law

Signed

executive

Feb 21, 2025

Lower · Passed

passed House

lower

Feb 20, 2025

Lower · Passed

DO PASS committee report adopted

lower

Feb 15, 2025

Introduced

Sent to House Appropriations & Finance Committee

lower

Feb 14, 2025

Upper · Passed

passed Senate

upper

Feb 12, 2025

Upper · Passed

DO PASS, as amended, committee report adopted

upper

Feb 5, 2025

Upper · Passed

DO PASS committee report adopted

upper

Jan 21, 2025

Introduced

Sent to Senate Health and Public Affairs Committee & Senate Finance Committee

upper

5 primary · 0 co-sponsors