Budget & Taxes

failed · New Mexico · House Mar 24, 2026

HB 103: CAP RESIDENTIAL PROPERTY TAX RATES

HB 103 caps annual increases in residential property tax assessments at 103% of the prior year's value or 106.1% of the value from two years prior, whichever is higher. This limit does not apply if a property's zoning changed or if ownership transferred in the year before the tax year. The bill also requires counties with low property sales ratios to reassess properties to meet a minimum threshold before the cap applies. It takes effect for tax years beginning January 1, 2026.

Topics ✓ Budget & TaxesSupports Budget & TaxesCaps annual residential property tax increases, providing relief to homeowners by limiting assessment growth rates.95% confidence | Rep's Stance ✗ Voted No ✗ Opposes Budget & Taxes

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signed · New Mexico · House Mar 11, 2026

HB 2: GENERAL APPROPRIATION ACT OF 2026

HB 2, the General Appropriation Act of 2026, allocates funding for New Mexico's state government operations during fiscal year 2027. It directs $55 million from the general fund to legislative agencies and $496 million from the general fund to the judiciary, with additional amounts from other funding sources. The bill requires unspent funds at year-end to automatically return to the general fund by October 1, 2026 and 2027, and establishes accounting rules for tracking revenue and expenditures. This bill affects all state agencies by setting their budget allocations and spending rules for the 2027 fiscal year.

Topics ✓ Budget & TaxesSupports Budget & TaxesAllocates state funds for operations, mandates unspent funds return to general fund, promoting fiscal responsibility per budget management indicators.90% confidence | Rep's Stance ✗ Voted No ✗ Opposes Budget & Taxes

signed · New Mexico · House Mar 9, 2026

HB 8: HIGHER ED. MAJOR PROJECTS FUND

HB 8 creates a $300 million Higher Education Major Projects Fund in New Mexico's state treasury, funded by a transfer from the general fund. The bill allows state universities and community colleges to use these funds for major construction projects, including research facilities costing $50 million or more, student housing, and student life facilities like recreation centers. It requires institutions to cover 25-50% of project costs through non-state sources (like donations or bonds), with waivers possible if institutions cannot afford matches. Initial priorities include $150 million for a new UNM medical school, $50 million for a NMSU building, and $100 million for student housing statewide.

Topics ✓ Budget & TaxesSupports Budget & TaxesAllocates $300M from general fund to higher ed projects, requiring institutional cost-sharing, advancing public service funding within fiscal management.95% confidence ✓ EducationSupports EducationCreates $300M fund for higher ed infrastructure (research facilities, housing, recreation), directly advancing educational facilities funding for state universities and colleges.95% confidence | Rep's Stance ✗ Voted No ✗ Opposes Budget & Taxes

signed · New Mexico · House Mar 6, 2026

HB 4: HEALTH CARE AFFORDABILITY FUND DISTRIBUTIONS

HB 4 adjusts how funds from New Mexico's health insurance premium surtax are distributed to the Health Care Affordability Fund. It changes the percentage of surtax revenue sent to the fund over time: 55% before July 2024, 30% from July 2024 to September 2025, 55% from September 2025 to September 2026, and 100% after September 2026. The bill directly affects the allocation of state revenue generated by the health insurance surtax, which supports healthcare affordability programs. This policy change modifies existing distribution rules without altering the surtax rate itself. The fund's purpose is to assist New Mexicans with healthcare costs, though the bill does not specify new eligibility criteria or program expansions.

Topics ✓ Budget & TaxesSupports Budget & TaxesBill directs surtax revenue to Health Care Affordability Fund, funding essential healthcare programs through tax allocation. Explicitly increases fund allocation over time (100% post-2026).95% confidence ✓ HealthcareSupports HealthcareBill increases funding allocation to Health Care Affordability Fund over time, reaching 100% after 2026 to support healthcare affordability programs.92% confidence | Rep's Stance ✗ Voted No ✗ Opposes Budget & Taxes

signed · New Mexico · House Feb 25, 2026

HB 253: PUBLIC EDUCATION CHANGES

HB 253 requires New Mexico school districts and charter schools to report projected enrollment numbers for students in distance learning programs. It changes school funding calculations by excluding distance learning students from membership counts used to determine state funding, and establishes a new approval process for these programs requiring state education department review. The bill also sets enrollment limits for distance learning with specific exceptions, clarifies requirements for students with disabilities in such programs, and renames the "Statewide Cyber Academy Act" as the "Distance Learning Act" while updating related definitions. These changes directly affect school districts, charter schools, and students enrolled in distance learning programs.

Topics ✗ Budget & TaxesOpposes Budget & TaxesExcludes distance learning students from membership counts used for state funding calculations, directly reducing state expenditure on these programs.90% confidence ✗ EducationOpposes EducationExcludes distance learning students from funding calculations and imposes enrollment limits, directly reducing state support and restricting program expansion.90% confidence | Rep's Stance ✓ Voted Yes ✗ Opposes Budget & Taxes

signed · New Mexico · Senate Feb 7, 2026

SB 2: STATE HIGHWAY PROJECT BONDS

SB 2 increases funding for New Mexico's highway projects by raising fees on vehicle registrations and commercial truck taxes. It raises weight-distance tax rates for commercial trucks (affecting freight companies), increases standard passenger vehicle registration fees, and adds new annual fees for electric vehicles ($70-$90) and plug-in hybrids ($35-$45) starting in 2027. All new revenue from these changes goes directly to the State Road Fund to support highway improvements. The bill specifically targets commercial truck operators, all vehicle owners, and electric vehicle owners, with fee amounts varying by vehicle type and registration year.

Topics ✓ Budget & TaxesSupports Budget & TaxesBill increases vehicle registration, truck taxes, and EV fees to fund highway projects via State Road Fund, directly advancing infrastructure budget allocation.95% confidence ✓ TransportationSupports TransportationBill explicitly increases highway funding via vehicle registration, truck tax, and EV fees, directing all new revenue to State Road Fund for infrastructure improvements.95% confidence | Rep's Stance ✗ Voted No ✗ Opposes Budget & Taxes

in committee · New Mexico · House Feb 3, 2026

HB 3: DEPT. OF TRANSPORTATION ACT OF 2026

This bill (HB 3) is a funding authorization for New Mexico's Department of Transportation (DOT) for fiscal year 2027. It allocates specific budget amounts for highway construction and maintenance ($556 million for design/construction, $321 million for operations), including funding for road projects, bridge inspections, and equipment. The bill includes performance targets, such as maintaining 95% of bridges in fair or better condition and completing 88% of projects on schedule. It directly affects DOT operations and state highway infrastructure management, with no new policy changes - only funding allocation.

Topics ✓ Budget & TaxesSupports Budget & TaxesAllocates $877M for DOT infrastructure, directly funding public transportation services per budget authorization.95% confidence ✓ TransportationSupports TransportationAllocates $556M for highway construction/maintenance and $321M for operations, with performance targets for infrastructure upkeep.95% confidence | Rep's Stance ✗ Voted No ✗ Opposes Budget & Taxes

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