HB 143 expands tax credits for healthcare providers working in New Mexico's rural underserved areas. It increases the rural health care practitioner tax credit to $15,000 annually for physicians/dentists/optometrists (requiring 1,584+ hours of service) and $9,000 for other providers like nurses, pharmacists, and therapists. The bill also creates a new Medical Residency Loan Repayment Act to award loan repayment assistance to qualifying medical residents and fellows. These provisions directly target healthcare professionals in rural communities to improve provider recruitment and retention.
HB 92 would expand New Mexico's tax exemption for Social Security income, directly benefiting seniors whose primary income comes from Social Security. The bill phases in higher tax exemptions over time: starting at 20% for 2026-2027, increasing to 40% (2028-2029), 60% (2030-2031), 80% (2032-2033), and reaching 100% by 2034. It sets income thresholds: $75,000 for married filing separately, $150,000 for joint filers, and $100,000 for single filers. The bill is currently pending before the House Commerce & Economic Development and Taxation & Revenue Committees.
HB 41 provides a temporary, additional 2% payment to eligible retired public employees under New Mexico's Public Employees Retirement Act (PERA) for fiscal years 2027 and 2028. It directly affects retirees who meet specific criteria, such as having retired for at least two years (or one year if over 65), disability retirees with one year of retirement, or survivor beneficiaries with two years of payments. The bill appropriates $70 million from the general fund to cover these payments, which are calculated as 2% of each recipient’s current pension amount (not compounded), with special provisions for retirees receiving under $25,000 annually or aged 75+.
SB 19 adjusts New Mexico's public school funding calculation for fiscal year 2026 by resetting the "unit value" used to determine state education funding. It requires the Secretary of Public Education to adjust this value by February 27, 2026, based on statewide unit counts after consulting with finance departments and legislative committees. This change directly affects all public schools in New Mexico by altering the formula for calculating their state funding allocation for that fiscal year. The bill is a temporary adjustment for FY2026, not a permanent change to the school finance system.
SB 196 allocates $2.5 million from the state general fund for fiscal year 2027 to fund spay/neuter programs, veterinary care, and facility improvements at the Las Vegas Animal Care Center. The bill directly affects the center's operations by providing funding for essential animal health services and infrastructure upgrades. It requires the Local Government Division of the Department of Finance and Administration to contract these services, with any unspent funds reverting to the general fund by year-end. This is a funding measure, not a policy change, focused on supporting animal welfare services at a specific municipal facility.
SB 125 modifies how school districts and charter schools fund employee insurance. It requires these entities to cover at least 80% of insurance costs for lower-paid staff (under $50,000 salary), 70% for middle-paid staff ($50k-$60k), and 60% for higher-paid staff ($60k+), eliminating previous waivers that allowed them to opt out of the Public School Insurance Authority. The bill also mandates reference-based pricing for hospital services in state health plans, requiring hospitals to charge no more than set rates for covered care. This directly affects school employees and school districts by standardizing their insurance contribution requirements and controlling healthcare costs.
SB 55 increases New Mexico's income tax credit for solar energy installations to 30% of the cost (up from 10%), with a maximum annual credit of $15,000 per taxpayer. It applies directly to homeowners, businesses, and agricultural operations that install qualifying solar thermal or photovoltaic systems in New Mexico. Taxpayers can transfer their unused credit to another taxpayer, and the state will cap total annual credits at $30 million to prevent overspending. The bill takes effect for tax years beginning January 1, 2026, and expires for tax years ending before 2032.
HB 247 limits how New Mexico state agencies can manage capital projects (like construction or equipment purchases) by requiring unspent funds to revert to specific state funds. It prohibits reauthorizing projects more than once or for over two years unless 10% of the initial funds are already committed, and mandates that projects over $100,000 must align with an approved infrastructure plan. Unspent general fund capital appropriations must revert to the Capital Development and Reserve Fund (or Tribal Infrastructure Fund for tribal projects) by specific deadlines, with water projects now requiring state agency grant programs instead of direct legislative funding. The bill updates prior laws (2022-2025) to enforce these reversion timelines and spending rules.
HB 100 appropriates $3 million from the state general fund to the Public Education Department for the Science, Technology, Engineering, and Mathematics (STEM) Innovation Network during fiscal year 2027. This funding directly supports public schools and educational institutions in New Mexico by financing STEM programs and resources. Any unspent funds at the end of fiscal year 2027 must revert to the general fund. The bill establishes a specific, time-bound funding mechanism without altering existing education policies or creating new requirements for schools.
HB 158 requires state agencies receiving funds from the Government Results and Opportunity Expendable Trust to submit detailed accountability and evaluation plans for their programs. These plans must outline goals, evidence-based practices, performance measures, evaluation methods, and public reporting timelines. Agencies must submit initial plans by July 1 each year after funding is approved, with potential revisions by September 1, and final evaluations by July 15 of the program’s last funding year. The bill aims to ensure transparency and measurable outcomes for public spending from this specific trust fund.
