Budget & Taxes

HB 290 extends the property tax exemption period for redevelopment projects in New Mexico's metropolitan areas from 10 to 20 years. It applies to properties acquired by municipalities on or after January 1, 1986, under the Metropolitan Redevelopment Code. During this extended exemption, lessees and owners with substantial beneficial interest must pay annual "payments in lieu of taxes" based on the property's historical value before acquisition. These payments ensure local governments receive revenue equivalent to what would have been collected as property taxes during the exemption period.

SB 260 creates a tax credit allowing businesses to claim 75% of donations (up to $750,000 per company annually) to public colleges or school districts for workforce education programs, such as vocational training and job skills courses. The credit is capped at $5 million total per year across all businesses, requiring companies to apply for certification through the state's economic development department. Eligible donations must be direct monetary contributions to public institutions - not to affiliated entities - and the credit applies to taxable years starting January 1, 2026. This policy directly affects businesses donating to workforce training programs and public educational institutions receiving those funds.

SB 234 allocates $1.2 million from the general fund to the New Mexico Public Education Department for the Albuquerque Public School District to provide school transportation to and from school for foster children. The bill directly affects foster children in Albuquerque schools by ensuring consistent transportation access, addressing a common barrier to education. Key provisions include dedicated annual funding for fiscal year 2027 and beyond, with unspent balances carrying forward instead of reverting to the general fund. This is a funding appropriation bill focused on practical support for foster youth, not a policy change.

HB 323 appropriates $5 million from the general fund to the Office of Broadband Access and Expansion for fiscal year 2027 and beyond. It directly assists low-income residents living in unincorporated areas, small municipalities (under 20,000 population), or tribal lands (reservations, pueblos, or trust lands) to access affordable broadband service. The bill mandates that unspent funds carry over annually instead of reverting to the general fund. This funding mechanism aims to expand broadband access in underserved communities without requiring additional annual appropriations.

HB 325 creates a dedicated state fund to improve safety at road-rail crossings in New Mexico, directly affecting communities and transportation agencies at intersections where roads meet railroad tracks. The fund, initially funded with $1 million for fiscal year 2027, will finance projects like installing crossing gates, signals, or grade separations through the state Department of Transportation. Unspent funds will roll over annually without reverting to the general fund, and starting October 1, 2026, any remaining balance will be transferred to the state road fund to support additional safety projects. This legislation provides a permanent funding mechanism for safety improvements at high-risk crossings.

HB 300 appropriates $300,000 from the state general fund to the northwest New Mexico council of governments for managing horses on tribal land in Cibola County. The funds will cover creating herd management plans, using fertility control on mares, humanely relocating up to 60 free-roaming horses, and providing veterinary clinics for domestic horses (including gelding and vaccinations). The money is allocated for fiscal years 2027 through 2029, with any unspent balance reverting to the general fund by the end of 2029. This bill directly affects tribal land horse populations and domestic horse owners in Cibola County by funding specific care and management activities.

SB 304 creates the "New Mexico Next Generation Act" to provide financial support for New Mexico-born children meeting specific residency requirements. It establishes two funds: the Next Generation Trust Fund (for long-term investment) and the Baby Bonds Fund, which will distribute money for education or housing costs to eligible beneficiaries aged 18-40 after completing a financial literacy course. The bill exempts these benefits from state income tax and requires data sharing between health and child welfare agencies to verify eligibility. It explicitly states that benefits are not guaranteed and funds won’t count as assets for need-based assistance programs.

HB 299 appropriates $350 million from the state general fund to the New Mexico Department of Transportation for the second phase of expanding U.S. Highway 180. The funding will cover rights-of-way acquisition, planning, design, and construction to widen the highway from two to four lanes between Bayard and Deming during fiscal years 2026-2029, with unspent funds reverting to the general fund by 2029. This bill directly affects drivers traveling between Bayard and Deming, as well as the state transportation agency responsible for implementing the project. The project is specifically identified as infrastructure project 1101841.

SB 216 allocates $500,000 from the general fund to New Mexico's Public Education Department for fiscal year 2027 to issue certificates to individuals proficient in Native American languages and cultures of tribes, pueblos, or Indian nations located wholly or partially within New Mexico. The bill directly affects residents who demonstrate proficiency in these languages and cultures, aiming to recognize and support linguistic heritage. Key provisions include the specific funding amount, the requirement that unspent funds revert to the general fund by end of fiscal year 2027, and the focus on tribes/pueblos in New Mexico. This is a funding measure for certification, not a policy change affecting broader education standards or programs.

SB 249 appropriates $1 million from the state general fund to the New Mexico Attorney General for the Missing and Murdered Indigenous Peoples Task Force during fiscal year 2027. This funding directly supports efforts to address cases affecting Indigenous communities in New Mexico by continuing the task force's work on investigations, data collection, and community engagement. The bill specifies that any unspent funds at the end of fiscal year 2027 must return to the general fund. The legislation focuses on providing concrete financial resources for the task force's ongoing operations, without altering existing legal standards or creating new obligations.