Budget & Taxes

in committee · New Mexico · Senate Mar 24, 2026

SB 170: CHILD CARE FACILITY DONATION TAX CREDIT

SB 170 creates a tax credit for New Mexico taxpayers who donate money to licensed child care facilities serving children under 12. Individuals and businesses can claim a credit equal to their donation (up to $500,000 annually), reducing their state income tax bill or receiving a refund if the credit exceeds taxes owed. To qualify, donations must be monetary, go to facilities meeting state enrollment standards for child care subsidies, and be certified by the Early Childhood Education and Care Department. The total annual credit value across all taxpayers is capped at $10 million, with applications processed in order of receipt. This policy directly affects donors and licensed child care facilities, aiming to support child care access through tax incentives.

Topics ✓ Budget & TaxesSupports Budget & TaxesCreates tax credit reducing state income tax for donations to child care facilities, providing tax relief while funding essential child care services.95% confidence

Sub-Topics Income Tax Tax Credits

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in committee · New Mexico · Senate Mar 24, 2026

SB 107: STATEWIDE OUT-OF-SCHOOL TIME PROGRAMMING

SB 107 appropriates $20 million from the general fund annually to fund after-school and enrichment programs for school-age youth across New Mexico. The bill allocates $10 million specifically for school districts, charter schools, Bureau of Indian Education schools, and tribally controlled schools, and $10 million for nonprofit community organizations providing such programs. Unspent funds at year-end will not revert to the general fund, ensuring ongoing support for these services. This bill directly affects students in public schools and community-based programs by expanding access to structured out-of-school time activities.

Topics ✓ Budget & TaxesSupports Budget & TaxesAppropriates $20M annually from general fund for after-school programs, directly funding public education services per budget allocation.95% confidence ✓ EducationSupports EducationAllocates $20M annually for after-school programs targeting schools and nonprofits, ensuring ongoing funding for student enrichment and access.95% confidence

Sub-Topics State Budget

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in committee · New Mexico · House Mar 24, 2026

HB 240: EDUCATION OPPORTUNITY ACCOUNT ACT

HB 240 creates the Education Opportunity Account Act, allowing eligible New Mexico students (residents without a high school diploma or equivalent) to access state-funded accounts for education expenses. The program deposits state funds - calculated based on average public school spending per grade, adjusted for special needs - into accounts managed by the state education department. Parents can use these funds for approved costs at qualifying private schools (not online schools), tutoring, textbooks, assessments, and transportation, but funds cannot be refunded to families and unspent balances revert to the state treasury after two years or upon graduation. The bill specifies strict usage rules, prohibits personal deposits into accounts, and requires annual contracts detailing approved expenses.

Topics ✓ Budget & TaxesSupports Budget & TaxesBill allocates state funds to education accounts, increasing public education spending from state budget per legislative funding mechanism.90% confidence ✓ EducationSupports EducationCreates state-funded accounts for eligible students' education expenses, expanding access and funding for K-12 and post-secondary education.95% confidence

Sub-Topics K-12 Education School Choice

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in committee · New Mexico · Senate Mar 24, 2026

SB 108: REGIONAL FARM TO FOOD BANK PROGRAM

SB 108 allocates $2 million from the state general fund to the New Mexico Department of Agriculture (administered through New Mexico State University) to fund a regional farm-to-food bank program. This program connects local farms with food banks across New Mexico, helping redirect surplus produce to communities facing food insecurity. The bill ensures the funds remain available for fiscal year 2026 and future years without reverting to the general fund if unspent. It is a funding measure, not a new policy, and directly supports food banks, farms, and food-insecure residents through this specific appropriation.

Topics ✓ Budget & TaxesSupports Budget & TaxesAllocates $2M general fund to fund food bank program, increasing government spending for public assistance services.90% confidence

Sub-Topics Appropriations State Budget

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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

Sub-Topics Revenue Insurance

in committee · New Mexico · Senate Mar 24, 2026

SB 150: LOCAL NEWS PRINTER TAX CREDIT

SB 150 creates a refundable tax credit for New Mexico local news printers (businesses that manufacture/produce newspapers for local news organizations) that employ qualified staff. It allows owners to claim up to $10,000 per full-time equivalent employee ($5,000 for part-time) based on wages paid, with a total annual cap of $1 million across all credits. To qualify, news printers must have operated for at least five years, employ five or more qualified employees (who work 25%+ of the year on newspaper production in New Mexico), and meet specific content and ownership requirements. The credit is claimed through a department certification process and expires before 2031.

Topics ✓ Budget & TaxesSupports Budget & TaxesBill creates a refundable tax credit for local news printers, a direct tax relief measure that reduces state tax revenue while supporting a specific industry. Explicitly addresses taxation policy.95% confidence

Sub-Topics Business Taxes Tax Credits Tax Incentives

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in committee · New Mexico · House Mar 24, 2026

HB 265: TAXPAYER DIVIDEND INCOME TAX REBATE FUND

HB 265 creates a new "Taxpayer Dividend Income Tax Rebate Fund" to distribute excess state revenues as direct tax rebates to New Mexico residents. The fund receives money from two sources: (1) excess oil and gas tax revenues (previously allocated to early childhood education), and (2) excess federal mineral leasing funds. Eligible residents who file a New Mexico income tax return by May 31 receive a rebate equal to the fund's prior year balance divided by the total number of filers. The rebate reduces tax liability or is refunded if it exceeds the amount owed.

Topics ✓ Budget & TaxesSupports Budget & TaxesProvides direct tax rebates to residents using excess revenues, aligning with tax relief indicators for support.92% confidence

Sub-Topics Income Tax

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in committee · New Mexico · Senate Mar 24, 2026

SB 201: RURAL LIBRARIES

SB 201 allocates $1.5 million from the state general fund to the Cultural Affairs Department for rural library operations during fiscal year 2027. This funding directly supports rural libraries across New Mexico by covering operational costs, such as staffing and materials. Any unused funds at the end of fiscal year 2027 must be returned to the general fund. The bill is a straightforward funding measure with no additional requirements or policy changes beyond the specified appropriation.

Topics ✓ Budget & TaxesSupports Budget & TaxesAllocates $1.5M for rural library operations, directly funding public services via state budget without tax changes or defunding.95% confidence

Sub-Topics Appropriations State Budget Tags Rural Communities

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in committee · New Mexico · House Mar 24, 2026

HB 236: UNM PATHWAYS STATEWIDE COLLABORATIVE PROGRAM

HB 236 allocates $2 million from the state general fund to the University of New Mexico Health Sciences Center for its "Pathways Statewide Collaborative" program. The funding supports health professional pathway programs, including STEM education and health sciences training, as well as youth leadership development activities. Any unspent funds at the end of fiscal year 2027 must be returned to the state general fund. This bill directly affects UNM Health Sciences Center programs and the students participating in these pathway initiatives.

Topics ✓ Budget & TaxesSupports Budget & TaxesAllocates $2M from state general fund to fund UNM health/STEM programs, directly advancing public service funding within state budget management.95% confidence ✓ EducationSupports EducationAllocates $2M for STEM education, health sciences training, and youth leadership under UNM's Pathways program, directly funding educational initiatives in higher education.95% confidence ✓ HealthcareSupports HealthcareAllocates $2M to UNM Health Sciences for health professional training programs, directly advancing healthcare workforce development through funding.95% confidence

Sub-Topics State Budget Higher Education Healthcare Workforce

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in committee · New Mexico · Senate Mar 24, 2026

SB 142: SEVERANCE BONDS FOR ED. TECHNOLOGY

SB 142 extends the authorization to issue up to $10 million annually in severance tax bonds for education technology infrastructure in New Mexico until July 1, 2030. The bonds, certified by the Office of Broadband Access and Expansion and sold by the State Board of Finance, fund school technology upgrades like broadband and digital tools. Proceeds are directed to an education technology infrastructure fund for public school systems. This maintains funding for school technology infrastructure projects beyond the current authorization period.

Topics ✓ Budget & TaxesSupports Budget & TaxesExtends severance tax bond authorization to fund education technology infrastructure, directing existing tax revenue toward public education services.85% confidence ✓ EducationSupports EducationExtends $10M annual severance bonds for school technology infrastructure, maintaining funding for broadband/digital tools and directing proceeds to education tech fund per bill's purpose.95% confidence ✓ TechnologySupports TechnologyFunds education technology infrastructure including broadband and digital tools, directly supporting tech access in schools per bill's funding allocation.95% confidence

Sub-Topics Debt & Bonds Broadband Access

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