ADVANCE ELECTION FOR ED. FREEDOM TAX PROGRAM

This House Memorial (HM 28) is a non-binding request to New Mexico's governor, asking them to formally opt the state into the federal Education Freedom Tax Credit program. It does not create new state law but urges the governor to submit an "advance election" to the IRS, allowing New Mexico residents to claim federal tax credits for donations to scholarship organizations supporting K-12 students. The program, enacted by federal law, enables dollar-for-dollar tax credits for charitable contributions to scholarship-granting groups, with no cost to New Mexico’s state budget. The memorial emphasizes that delaying this decision could redirect private donations to other states, potentially reducing educational funding opportunities for New Mexico families.