SB 283 New Mexico Senate · 2026 Regular Session

PUBLIC PEACE, HEALTH, SAFETY & WELFARE

The bill text for SB 283 is not provided in the context, only its title and committee actions. Without the actual provisions or policy details of the bill, a factual summary of what it does, who it affects, or its key mechanisms cannot be created. The recent actions (withdrawn, replaced with committee substitute) indicate procedural movement but do not describe the bill's content. A summary requires the bill's text, which is missing from the provided context.

Bill status died 1 of 4 stages cleared

Introduction

Feb 2026

Committee Review

Floor Vote

Governor

Introduced Feb 4, 2026 Last action Mar 24, 2026

Maddy AI version diff · 2 comparisons

What changed between versions

CT substitute → PP substitute · 4 edits

MODERATE

The bill text was updated to reflect a new version of Senate Bill 283, changing the title from a focus on expanding metropolitan redevelopment projects to exempting qualifying multifamily properties in housing shortage areas from property taxation. The substantive policy language regarding findings, declarations, and the scope of redevelopment powers was significantly reorganized, with the original tax exemption language for 14 years removed and replaced with a 20-year exemption provision in the new title, though the detailed statutory text in this excerpt shows structural reorganization rather than clear final policy language.

Scope change

The bill's scope shifted from expanding the scope of metropolitan redevelopment projects to specifically exempting qualifying multifamily properties in housing shortage areas from property taxation for up to twenty years.

SCOPE

The title and summary of the bill were changed to focus on property tax exemptions for multifamily housing in housing shortage areas rather than expanding metropolitan redevelopment projects.

TIMELINE

The property tax exemption period was changed from fourteen years to up to twenty years pursuant to the Metropolitan Redevelopment Code.

DEFINITION

The findings and declarations section was reorganized to emphasize housing shortage areas alongside slum and blighted areas, with new language about land acquisition and clearance by local government.

TECHNICAL

The bill header and committee information were updated to reflect a proposed committee substitute version with different formatting and draft status indicators.

introduced version → CT substitute · 7 edits

MODERATE

This bill significantly expands New Mexico's Metropolitan Redevelopment Code to include 'housing shortage areas' alongside traditional slum and blighted areas. The changes allow local governments to designate areas with high housing costs, low vacancy rates, or inadequate affordable housing as redevelopment zones, enabling them to acquire property and develop qualifying multifamily housing. The bill also extends property tax exemptions for qualifying multifamily properties from 10 to 14 years and adds new requirements for audits, repairs, and periodic inspections.

Scope change

The bill expands the scope of redevelopment areas to include housing shortage areas in addition to slum and blighted areas, allowing local governments to target areas with high housing costs and low vacancy rates for redevelopment projects focused on affordable multifamily housing.

DEFINITION

Added new definition for 'housing shortage area' covering areas with affordable housing shortages, rising housing costs outpacing wage growth, low vacancy rates, excessive housing costs, or inadequate supply of multifamily/workforce housing.

ELIGIBILITY

Expanded eligibility for metropolitan redevelopment projects to include areas designated as housing shortage areas, not just traditional slum or blighted areas.

TIMELINE

Extended property tax exemption period for qualifying multifamily properties from 10 years to 14 years, with the exemption period now extending through the 14th anniversary of acquisition.

REQUIREMENT

Added new requirements for qualifying multifamily properties including mandatory audits by independent auditors, minimum $100 per unit administrative fees, and repairs totaling at least $10,000 per qualifying unit within three tax years.

Added requirement for periodic inspections of properties constructed or rehabilitated pursuant to metropolitan redevelopment plans to ensure compliance with housing and safety standards.

Added requirement for local governments to report on effectiveness of qualifying multifamily properties to the legislative finance committee by July 1, 2033.

ENFORCEMENT

Created new enforcement mechanisms including Attorney General investigation authority, civil penalties up to $10,000 per violation, and five-year property tax ineligibility for violators.

Floor votes

How they voted

No floor votes recorded yet.

Full legislative history

Actions timeline

Total actions

Key actions

Committee

Feb 15, 2026

Upper · Passed

DO NOT PASS, replaced with committee substitute

upper

Feb 11, 2026

Committee

referred to Senate Committees' Committee & Senate Tax, Business and Transportation Committee

upper

Feb 4, 2026

Upper · Passed

not printed Senate Tax, Business and Transportation Committee

upper

2 primary · 0 co-sponsors