HB 159 establishes a two-year pilot program using $1 million in state funds to provide free, evidence-based mental health support for K-12 students and families in New Mexico. The program will offer mental health education, self-management tools, and care navigation services through a dedicated platform. It requires the Public Education Department to contract implementation services and submit an impact report to the legislative education committee by 2028. The bill directly affects all public school students and families in New Mexico, with funding limited to fiscal years 2027-2028.
HB 140 appropriates $500,000 from the general fund to the New Mexico Mortgage Finance Authority for ongoing oversight duties required by the Affordable Housing Act. This funding ensures the Authority can monitor and administer existing affordable housing programs without needing annual budget requests. The bill specifies that unspent funds in any fiscal year will not return to the general fund, providing stable, long-term support for oversight. It directly affects the Mortgage Finance Authority, which manages New Mexico's affordable housing programs, by securing dedicated resources for compliance and program management. The bill does not create new housing policies but provides essential funding for existing oversight mechanisms.
HB 242 provides a temporary 1.68% annual cost-of-living pay increase for eligible New Mexico public retirees aged 65+ who have retired for at least two years. It applies to normal retirees, disability retirees, and survivors meeting specific criteria, with an additional 2.5% increase for retirees with pensions under $25,000 annually. The state appropriates $10 million from the general fund for fiscal years 2027-2028 to fund these adjustments, starting July 1, 2026. The bill ensures retirees receive these increases without compounding and allows them to opt out of the adjustment.
HB 77 creates a corporate income tax credit for businesses renovating vacant buildings or lots in New Mexico that have been unoccupied for at least two years. The credit covers 30% of renovation costs for properties vacant 2-5 years (capped at $2 million per business) or 40% for properties vacant 5+ years (capped at $4 million), provided at least 15% of new housing units are affordable for low/moderate income residents (defined as ≤85% of local median income). Businesses must get pre-certification before work begins and post-completion certification, with the credit being transferable or carry-forwardable for up to five years. The credit expires in 2038, has an annual spending limit of $100 million (with $50 million reserved for non-rural areas), and applies to projects starting in 2026.
SB 159 requires the University of New Mexico's Board of Regents to provide $27 million in state funds over fiscal years 2027-2029 to cover unreimbursed costs for eligible healthcare facilities hosting medical residency programs. Eligible entities include federally qualified health centers, rural health clinics, independent psychiatric facilities, and critical access hospitals that sponsor accredited residency programs in New Mexico. The funding covers resident salaries, supervising physician costs, accreditation, and program administration, with priority given to New Mexico residents. Unspent funds by the end of 2029 will revert to the state general fund.
HB 133, the General Appropriation Act of 2026, allocates state funds for fiscal year 2027 to all New Mexico state agencies, departments, and programs. It establishes rules for managing these funds, including requiring unspent balances from fiscal year 2026 or 2027 to revert to the general fund unless otherwise specified. The bill also defines key budget terms like "general fund" and "internal service funds" to standardize financial reporting across state agencies. As a procedural budget bill, it focuses on funding mechanisms rather than policy changes affecting citizens.
SB 156 removes income limits for New Mexico taxpayers claiming an exemption on Social Security benefits. Currently, the exemption is capped at $75,000 (married filing separately), $150,000 (joint filers), or $100,000 (single filers). The bill eliminates these caps, allowing all Social Security income to be exempt from state income tax regardless of total earnings. This change applies to taxable years beginning January 1, 2026, and directly affects New Mexico residents receiving Social Security benefits who exceed the previous income thresholds.
SB 133 creates a tax deduction in New Mexico for healthcare practitioners who sell equipment or non-prescription medication directly to patients during office visits. It allows deductions for items used in patient treatment (like medical devices or saline), excluding standard office furniture and computers. To offset lost local tax revenue, the bill requires municipalities and counties to receive compensation based on the total deductions claimed in their areas. The law takes effect July 1, 2026.
HB 255 creates a dedicated state fund to help counties and public safety agencies recruit and retain workers in law enforcement, firefighting, corrections, and public defender offices. The program provides competitive grants for recruitment bonuses, training, cross-jurisdictional collaboration, and equipment tied to workforce development - *not* for base salaries or new positions. Grant applicants must demonstrate how their initiatives address local staffing gaps, with priority given to areas with high vacancy rates or crime. All funds must be spent within two years, and grantees must submit annual progress reports to the state.
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.
