GOVERNMENTAL ACCOUNTING CLASS & COMPENSATION

HB 386 appropriates $500,000 from the general fund to the New Mexico Office of the State Auditor for a study on governmental accounting classification and compensation structures. The study will examine current systems used by state agencies for classifying accounting roles and setting compensation within the governmental accounting sector. This funding is allocated for fiscal years 2026 through 2028, with any unused funds reverting to the general fund by the end of 2028. The bill directly affects the Office of the State Auditor, which will conduct the study, but does not enact new policy or change existing laws.