SB 425 New Mexico Senate · 2025 Regular Session

CAPITAL OUTLAY REAUTHORIZATIONS

SB 425 reauthorizes spending periods for existing state capital projects and establishes rules for handling unspent funds. It requires unexpended balances from severance tax bonds and general fund appropriations to revert to specific funds (like tribal infrastructure or the originating fund) after set deadlines, extending some project timelines through fiscal year 2027. The bill redirects specific unspent funds - such as money originally for a Las Vegas water line to purchase vehicles, or funds for a veterans building renovation to improve Veterans Park - while setting clear reversion dates. This procedural bill streamlines fund management without creating new policies or altering agency responsibilities.

Bill status signed all 5 stages cleared

Introduction

Feb 2025

Committee Review

Mar 2025

Senate Passage

Mar 2025

House Passage

Mar 2025

Signed into Law

Apr 2025

Introduced Feb 17, 2025 Signed Apr 11, 2025

Maddy AI version diff · 2 comparisons

What changed between versions

introduced version → FC substitute · 5 edits

MODERATE

This bill was substantially rewritten from its original version to expand the number of capital projects from approximately 10 to over 200, primarily by adding numerous new project extensions and purpose changes throughout New Mexico. The changes extend expenditure timelines through fiscal year 2027 for most projects and allow funds to be redirected to different purposes or agencies in many cases.

Scope change

The bill's scope significantly expanded from a limited set of capital projects to include over 200 specific projects across all New Mexico counties, covering transportation, education, public safety, infrastructure, and tribal projects.

SCOPE

Added over 190 new project sections extending expenditure timelines through fiscal year 2027 for various capital projects across New Mexico counties

Added emergency declaration provision at the end of the bill to expedite the legislative process

FISCAL

Changed project purposes and funding agencies for numerous projects, allowing funds originally allocated for one purpose to be redirected to different projects or agencies

DEFINITION

Added clear definitions for 'unexpended balance' in both severance tax bonds and general fund appropriations sections to clarify when funds revert

TIMELINE

Extended expenditure periods for most projects through fiscal year 2027, with some projects having different reversion timelines based on whether the expenditure period was changed in this act

Floor votes · Senate Mar 20, 2025 · House Mar 21, 2025

How they voted

33–0

Passed · 7 other

Total votes 40

Mar 20, 2025

D Democratic24

20 Yea 4

83% Yea

R Republican16

13 Yea 3

81% Yea

Vote distribution

All Yea All Nay Mixed No data

Full legislative history

Actions timeline

Total actions

Key actions

Committee

Apr 11, 2025

Signed into law

Signed

executive

Mar 22, 2025

Lower · Passed

passed House

lower

Mar 21, 2025

Lower · Passed

DO PASS committee report adopted

lower

Mar 21, 2025

House · Passed

House Vote: pass (58-0-8)

house

Mar 20, 2025

Upper · Passed

passed Senate

upper

Mar 20, 2025

Introduced

Sent to House Taxation & Revenue Committee

lower

Mar 18, 2025

Upper · Passed

DO NOT PASS, replaced with committee substitute

upper

Feb 17, 2025

Introduced

Sent to Senate Finance Committee

upper

1 primary · 0 co-sponsors