Budget & Taxes

in committee · New Mexico · House Mar 24, 2026

HB 90: HEALTH CARE PRECEPTOR INCOME TAX CREDIT

HB 90 creates a $1,000 annual income tax credit for licensed health care professionals in New Mexico who provide unpaid clinical training (preceptorships) to graduate students seeking eligible health care degrees. It directly affects licensed doctors, nurses, dentists, pharmacists, and other health professionals who mentor students at New Mexico colleges or universities. To qualify, preceptors must complete at least 120 hours of training under an accredited institution, with the credit requiring institution certification and applying only to the year of service. Unused portions of the credit can be carried forward to future tax years. The credit applies to taxable years beginning January 1, 2026, and targets health care education support rather than broader policy changes.

Topics ✓ Budget & TaxesSupports Budget & TaxesCreates $1,000 annual income tax credit for health care preceptors, directly providing tax relief under taxation policy.95% confidence ✓ HealthcareSupports HealthcareCreates tax credit to incentivize healthcare preceptors, strengthening workforce development and training for future professionals in healthcare education.95% confidence

Sub-Topics Income Tax Tax Credits

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in committee · New Mexico · House Mar 24, 2026

HB 217: WESTERN NM UNIVERSITY DIGITIZATION FUNDING

HB 217 appropriates $3 million from the state general fund to Western New Mexico University's Board of Regents for digitizing university files during fiscal year 2027. The funds must be spent by the end of 2027, with any unexpended balance reverting to the state treasury. This bill directly affects Western New Mexico University's administrative operations by providing dedicated funding for a specific digital infrastructure project. The legislation is purely procedural, focusing on financial allocation rather than policy changes.

Topics ✓ Budget & TaxesSupports Budget & TaxesAppropriates $3M from state general fund for university digitization project, directly funding education infrastructure via budget allocation.95% confidence ✓ TechnologySupports TechnologyFunds digitization of university files ($3M), directly supporting digital infrastructure within education, aligning with funding/advancing technology indicators.90% confidence

Sub-Topics State Budget

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in committee · New Mexico · House Mar 24, 2026

HB 104: COUNTY & TRIBAL HEALTH COUNCILS ACT FUNDING

HB 104 appropriates $8 million from the general fund to New Mexico's Department of Health for fiscal years 2027-2028 to support county and tribal health councils under the County and Tribal Health Councils Act. The bill specifically allocates $1 million to contract for services assisting the Department of Health in supporting these councils. Any unspent funds by the end of 2028 would revert to the general fund. This funding directly enables local health councils to operate and engage with state health initiatives.

Topics ✓ Budget & TaxesSupports Budget & TaxesAllocates $8M from general fund for health councils, increasing public service funding under budget appropriations.90% confidence ✓ HealthcareSupports HealthcareAllocates $8M to fund county/tribal health councils, enabling local health services operation under County & Tribal Health Councils Act.95% confidence

Sub-Topics State Budget

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in committee · New Mexico · Senate Mar 24, 2026

SB 36: QUANTUM FACILITY INFRASTRUCTURE TAX CREDIT

SB 36 creates a 30% tax credit for businesses making at least $3 million in qualified infrastructure or equipment expenditures for quantum facilities located in New Mexico. The credit, capped at $50 million per facility, directly affects companies building quantum technology research facilities in the state. Key provisions require preliminary and final certification from New Mexico's Economic Development Department, mandate equipment stay in-state for 10 years, and include specific definitions for "quantum facility" and "qualified equipment." The credit reduces income tax liability, with unused portions refundable, and is subject to an annual $50 million state budget cap.

Topics ✓ Budget & TaxesSupports Budget & TaxesBill creates 30% tax credit for businesses, directly providing tax relief under taxation policy.95% confidence ✓ TechnologySupports TechnologyProvides 30% tax credit for quantum tech infrastructure investments, directly funding research facilities in New Mexico per bill's core purpose.95% confidence

Sub-Topics Business Taxes Tax Credits Tax Incentives Emerging Technology Tags Economic Development

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in committee · New Mexico · Senate Mar 24, 2026

SB 92: CONSTRUCTION MATERIALS GROSS RECEIPTS

SB 92 creates a tax deduction for businesses selling construction materials and labor used in affordable multifamily housing projects in New Mexico. It directly affects developers and contractors building housing that qualifies as "affordable" (defined as units for households earning ≤80% of the area median income) and sold to qualifying grant recipients under the Affordable Housing Act. The deduction reduces taxable gross receipts for these specific sales until July 1, 2033, and requires the tax cost to be tracked in the state budget. The bill takes effect on July 1, 2026.

Topics ✓ Budget & TaxesSupports Budget & TaxesProvides tax deduction for affordable housing construction, reducing taxable income for qualifying businesses under affordable housing programs90% confidence ✓ HousingSupports HousingTax deduction for affordable housing construction (≤80% AMI) incentivizes development, directly advancing affordable housing goals through business tax relief until 2033.95% confidence

Sub-Topics Business Taxes State Budget Affordable Housing

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in committee · New Mexico · House Mar 24, 2026

HB 27: TECHNOLOGY JOBS R&D TAX CREDIT EXPANSION

HB 27 expands New Mexico's Technology Jobs and Research & Development Tax Credit by broadening the definition of "qualified expenditure" to include property owned by municipalities or counties for industrial revenue bond projects. This change directly affects technology companies and research facilities in New Mexico that qualify for the credit, allowing them to claim tax credits for costs related to local government-owned facilities used in qualifying R&D activities. The bill modifies existing tax code definitions to include these previously excluded property costs, without altering the credit's base eligibility criteria or calculation method. The amendment applies to businesses meeting standard requirements under the Technology Jobs and R&D Tax Credit Act, such as conducting qualified research in New Mexico facilities.

Topics ✗ Budget & TaxesOpposes Budget & TaxesExpands tax credit for tech businesses, reducing state tax revenue (direct tax break for corporations).90% confidence ✓ TechnologySupports TechnologyExpands tax credits for tech R&D, directly funding innovation and supporting industry growth in technology sector through broader qualified expenditure definition.95% confidence

Sub-Topics Debt & Bonds Government Spending Tax Credits

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in committee · New Mexico · Senate Mar 24, 2026

SB 83: ACCELERATING RESILIENCE INNOVATIONS DRYLANDS

SB 83 appropriates $1.937 million from the general fund to the University of New Mexico's Accelerating Resilience Innovations in Drylands Institute for fiscal year 2027. The funding supports ecological monitoring of New Mexico's air, land, and water; develops an AI-powered statewide network to predict ecosystem vulnerabilities (including fire risk); creates resilience strategies for sustainable resource management; continues K-12 STEM education partnerships; and enhances tribal research collaboration. This bill directly affects the University of New Mexico, its research partners, K-12 schools, and tribal communities through these specific programs. The funding is limited to 2027, with unspent balances reverting to the general fund.

Topics ✓ Budget & TaxesSupports Budget & TaxesAppropriates $1.937M from general fund for environmental/education programs, directly funding state budget allocation per fiscal management focus.95% confidence ✓ EducationSupports EducationBill allocates $1.937M specifically for K-12 STEM education partnerships and enhances educational programs through university research initiatives.95% confidence ✓ EnvironmentSupports EnvironmentFunds ecological monitoring, AI-driven vulnerability prediction, and sustainable resource strategies to protect environment per bill summary and subjects.95% confidence ✓ TechnologySupports TechnologyBill explicitly funds AI-powered network development for ecosystem monitoring, directly advancing technology application in environmental management.90% confidence

Sub-Topics State Budget Higher Education K-12 Education Artificial Intelligence

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in committee · New Mexico · House Mar 24, 2026

HB 246: MATCHING FUNDS FOR FLOODPLAIN LAND REHAB

HB 246 appropriates $62 million from the state general fund over fiscal years 2027-2029 to provide matching state funds for political subdivisions (like counties or municipalities) that have received federal approval to acquire and rehabilitate floodplain land. The bill directly affects local governments seeking to address flood risks by restoring floodplain areas to their natural state, reducing threats to life, safety, and public infrastructure. Key provisions require state matching funds to be used only for land already approved for federal assistance, with unspent funds reverting to the general fund by 2029. This policy change enables local flood risk mitigation projects through combined federal-state funding.

Topics ✓ Budget & TaxesSupports Budget & TaxesAppropriates $62M from state general fund for local floodplain rehab matching grants, increasing public spending on infrastructure.95% confidence ✓ EnvironmentSupports EnvironmentFunds floodplain rehabilitation to restore natural flood control, reducing environmental risks and protecting ecosystems through conservation.95% confidence

Sub-Topics State Budget Coastal & Flood Protection

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in committee · New Mexico · Senate Mar 24, 2026

SB 119: CREATE DEMOLITION FUND

SB 119 creates a $5 million state fund to help demolish deteriorated or condemned residential properties in New Mexico. It provides grants to counties and municipalities for demolishing such properties and allows property owners to apply for reimbursement if their home is in a blighted area under redevelopment or if repair costs significantly exceed demolition costs. The fund, administered by the state Department of Finance and Administration, will operate through rules to be finalized by December 2026. Unspent funds will carry forward annually, with the first $5 million appropriated for fiscal year 2027.

Topics ✓ Budget & TaxesSupports Budget & TaxesBill allocates $5M state fund for property demolition, funding public safety and redevelopment through state budget appropriations.92% confidence

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in committee · New Mexico · House Mar 24, 2026

HB 97: SHAKEN BABY SYNDROME PREVENTION FUNDING

HB 97 appropriates $165,000 from the general fund to New Mexico's Department of Health for fiscal year 2027 to prevent shaken baby syndrome and abusive head trauma. The funding will update prevention training materials, require all hospitals and birthing centers statewide to implement educational programs, and establish statewide reporting for abusive head trauma cases. This bill directly affects healthcare facilities and the Department of Health, which will administer the programs. Unspent funds at year-end will revert to the general fund.

Topics ✓ Budget & TaxesSupports Budget & TaxesAppropriates $165,000 from general fund for healthcare prevention programs, increasing public service funding allocation.95% confidence

Sub-Topics State Budget

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