Budget & Taxes

in committee · New Mexico · House Mar 24, 2026

HB 221: ARMED FORCES RETIREMENT PAY TAX EXEMPTION

HB 221 removes the $30,000 annual cap on tax exemptions for military retirement pay in New Mexico, making all such income tax-exempt for eligible individuals. It directly affects New Mexico military retirees and their surviving spouses who qualify for lifetime retirement benefits under federal law. The bill amends state tax code to eliminate the previous limitation, meaning retirees no longer face a taxable threshold on their military pay. This change applies to taxable years beginning January 1, 2026, and does not create new benefits but modifies existing tax treatment.

Topics ✓ Budget & TaxesSupports Budget & TaxesRemoves $30k tax cap on military retirement pay, providing tax relief to eligible retirees under tax policy changes.95% confidence ✓ VeteransSupports VeteransRemoves $30k tax cap on military retirement pay, expanding tax exemptions for veterans' benefits per bill summary.95% confidence

Sub-Topics Income Tax Tax Incentives

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in committee · New Mexico · House Mar 24, 2026

HB 249: ELECTRONIC MEDICAL RECORDS TAX CREDIT

HB 249 creates a New Mexico tax credit for health care practitioners who adopt digital medical records systems. It allows eligible practitioners (like physicians, nurses, and psychologists) to claim a credit equal to their payments for electronic medical records, up to $6,000 per year, if they meet specific requirements: providing at least 1,584 hours of care annually, working at a small health care institution (employing ≤10 practitioners), and maintaining payment records. The credit is non-refundable and cannot be carried forward if it exceeds tax liability, and practitioners cannot claim it if they already use a separate rural health care tax credit. The credit applies to taxable years starting January 1, 2026, through December 31, 2030.

Topics ✓ Budget & TaxesSupports Budget & TaxesBill creates a tax credit ($6,000/year) for healthcare practitioners adopting digital records, providing direct tax relief under taxation policy.95% confidence ✓ HealthcareSupports HealthcareProvides tax credit to healthcare providers for adopting digital records, improving efficiency and infrastructure - direct support for healthcare modernization.90% confidence ✓ TechnologySupports TechnologyBill provides tax credit to incentivize adoption of electronic medical records systems, directly promoting technology use in healthcare.95% confidence

Sub-Topics Tax Credits

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signed · New Mexico · House Mar 5, 2026

HB 7: APPRENTICESHIP ASSISTANCE ACT TRANSFERS

HB 7 directs annual transfers from New Mexico's Workforce Development and Apprenticeship Trust Fund to two specific programs: $2.5 million to the Public Works Apprentice and Training Fund and $2.5 million to the Workforce Solutions Department for fiscal year 2026, with amounts reducing to $1.5 million each annually after 2026. These funds support apprenticeship programs under the Apprenticeship Assistance Act, directly aiding job training for workers in public works and other sectors. The bill ensures dedicated funding for workforce development while including a contingency to transfer money to the general fund only if other reserves are exhausted during budget shortfalls.

Topics ✓ Budget & TaxesSupports Budget & TaxesDirects $2.5M/year from existing trust fund to apprenticeship programs, funding workforce development under Budget & Taxes appropriations.95% confidence ✓ Labor & EmploymentSupports Labor & EmploymentFunds apprenticeship programs for job training, directly supporting workforce development and employment standards per bill summary.95% confidence

Sub-Topics State Budget Apprenticeships Workforce Development

in committee · New Mexico · Senate Mar 24, 2026

SB 82: UNLEADED AVIATION FUEL GRANT PROGRAM

SB 82 creates a New Mexico state grant program to help publicly owned airports install unleaded aviation fuel systems. The program, funded with $5 million from the general fund, provides competitive grants of up to $200,000 per airport to airports without existing unleaded fuel access. Eligible applicants include publicly owned airports, state political subdivisions, and tribal nations/pueblos. The grant requires installations to use alcohol-free gasoline with lead content under 0.001 grams per gallon, effective July 1, 2026.

Topics ✓ Budget & TaxesSupports Budget & TaxesAllocates $5M general fund for airport fuel grants, advancing infrastructure spending under fiscal management90% confidence ✓ TransportationSupports TransportationBill funds $5M for airport infrastructure upgrades (unleaded fuel systems), directly advancing transportation infrastructure through competitive grants for publicly owned airports.95% confidence

Sub-Topics State Budget Airports

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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

Sub-Topics Appropriations Bridges Roads & Highways Transportation Funding

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passed · New Mexico · Senate Mar 24, 2026

SB 172: TECHNOLOGY READINESS GRT CREDIT

SB 172 extends New Mexico's Technology Readiness Gross Receipts Tax Credit, allowing national laboratories operating in the state to claim tax credits for costs incurred while helping registered New Mexico businesses mature technologies developed at those labs. The credit covers qualified expenses like lab staff salaries, travel, and supplies, up to $150,000 per business annually and with annual limits per laboratory (starting at $2 million in 2026-2027 and rising to $5 million by 2029). To qualify, businesses must be registered in New Mexico and have licensed technology from the lab or participate in a cooperative research agreement with it. National laboratories must submit annual reports detailing program activities, business progress, and economic impact studies to the state tax department.

Topics ✓ Budget & TaxesSupports Budget & TaxesExtends tax credit for national labs, reducing state tax revenue to incentivize business development through targeted fiscal relief.90% confidence ✓ TechnologySupports TechnologyBill provides tax credits to fund national labs assisting businesses in technology maturation, directly advancing tech development through financial support.95% confidence

Sub-Topics Business Taxes Tax Credits Tax Incentives

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in committee · New Mexico · House Mar 24, 2026

HB 130: CYFD DOMESTIC VIOLENCE PGMS FUNDING

HB 130 allocates $5 million from the state general fund to New Mexico's Children, Youth and Families Department (CYFD) for community-based domestic violence programs during fiscal year 2027. This funding directly supports local organizations providing services like shelter, counseling, and safety planning to domestic violence victims across the state. Any unspent funds at the end of fiscal year 2027 must revert to the general fund. The bill establishes a dedicated, time-bound funding mechanism for these critical community services.

Topics ✓ Budget & TaxesSupports Budget & TaxesAllocates $5M from general fund to CYFD for domestic violence programs, directly funding essential state services under budget appropriations.90% confidence

Sub-Topics State Budget

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in committee · New Mexico · Senate Mar 24, 2026

SB 8: BEHAVIORAL HEALTH TRUST FUND

SB 8 authorizes a $650 million transfer from New Mexico's general fund to the Behavioral Health Trust Fund for fiscal year 2027. This funding directly supports the state's behavioral health services by replenishing the trust fund, which finances mental health and substance use disorder programs. The bill establishes a specific, one-time funding mechanism to bolster existing services without creating new programs or eligibility criteria. It affects all New Mexicans who access behavioral health care through state-funded programs, as the transfer aims to strengthen service availability and infrastructure.

Topics ✓ Budget & TaxesSupports Budget & TaxesBill authorizes $650M transfer from general fund to Behavioral Health Trust Fund, directly increasing state funding for mental health services under budget appropriations.90% confidence ✓ HealthcareSupports HealthcareFunds mental health/substance use programs with $650M transfer, directly advancing behavioral health services per bill's purpose.95% confidence

Sub-Topics State Budget Mental Health Substance Abuse

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in committee · New Mexico · House Mar 24, 2026

HB 237: SMALL BUSINESS DISASTER RELIEF PROGRAM

HB 237 creates New Mexico's Small Business Disaster Relief Program, providing state grants to small businesses in areas declared disaster zones by the governor when federal aid or insurance reimbursement is unavailable. The program covers operating expenses (payroll, rent, utilities), property repairs, and other disaster-related costs, with applicants required to demonstrate lack of other funding sources. It establishes a $1 million nonreverting fund in the state treasury (appropriated from the general fund for fiscal year 2027 onward), administered by the Economic Development Department through a competitive review process. The department must report annually on grant recipients, amounts, and employment impacts to the legislative finance committee.

Topics ✓ Budget & TaxesSupports Budget & TaxesCreates $1M state fund from treasury for small business relief, directly appropriating budget for essential disaster aid program.95% confidence

Sub-Topics State Budget Tags Small Business

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in committee · New Mexico · House Mar 24, 2026

HB 243: EQUINE SHELTER FUND & TRUST FUND

HB 243 creates an Equine Welfare Trust Fund and amends the Equine Shelter Rescue Fund to better support registered equine rescue and retirement facilities in New Mexico. It transfers $5 million from the state’s General Fund to the new Trust Fund, which will invest the money and annually transfer 4% of its average value to the Shelter Fund starting in 2027. The Shelter Fund will then provide annual grants to eligible facilities (such as tax-exempt organizations not breeding horses) for costs like shelter, veterinary care, adoption programs, and basic equine welfare services. Facilities must apply for funding and report on their use of funds, and the state must submit annual reports to the legislature on fund distribution and outcomes.

Topics ✓ Budget & TaxesSupports Budget & TaxesTransfers $5M from General Fund to create trust fund supporting equine shelters via annual grants, directly funding a public program through state budget allocation.95% confidence

Sub-Topics State Budget

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