Budget & Taxes

signed · New Mexico · House Mar 11, 2026

HB 2: GENERAL APPROPRIATION ACT OF 2026

HB 2, the General Appropriation Act of 2026, allocates funding for New Mexico's state government operations during fiscal year 2027. It directs $55 million from the general fund to legislative agencies and $496 million from the general fund to the judiciary, with additional amounts from other funding sources. The bill requires unspent funds at year-end to automatically return to the general fund by October 1, 2026 and 2027, and establishes accounting rules for tracking revenue and expenditures. This bill affects all state agencies by setting their budget allocations and spending rules for the 2027 fiscal year.

Topics ✓ Budget & TaxesSupports Budget & TaxesAllocates state funds for operations, mandates unspent funds return to general fund, promoting fiscal responsibility per budget management indicators.90% confidence | Rep's Stance ✗ Voted No ✗ Opposes Budget & Taxes

vetoed · New Mexico · House Mar 11, 2026

HB 153: LOW-CARBON CONSTRUCTION MATERIAL REBATE ACT

HB 153 establishes a state rebate program to incentivize the use of low-carbon construction materials, such as cement, steel, and glass, in eligible projects (over one residential unit or 5,000 square feet of nonresidential space). Material buyers (e.g., developers or contractors) can receive rebates for purchasing materials meeting emissions benchmarks set by the Department of Environment - 15% below industry-average greenhouse gas emissions - verified through independently assessed environmental product declarations. Rebates are capped at $500,000 per project and $10 million statewide annually, with priority given to projects achieving the greatest emissions reductions and using New Mexico-made materials. The program requires annual reporting on emissions reductions and includes strict antifraud measures, including penalties for false claims.

Topics ✓ Budget & TaxesSupports Budget & TaxesEstablishes state-funded rebate program requiring government expenditure for low-carbon construction materials, directly allocating budget resources to incentivize industry adoption.90% confidence ✓ EnergySupports EnergyRebates for low-carbon construction materials reduce emissions, advancing energy efficiency and clean infrastructure goals per bill's emissions benchmarks and environmental focus.85% confidence ✓ EnvironmentSupports EnvironmentEstablishes rebates for materials meeting 15% below industry emissions benchmark, directly reducing construction sector GHG emissions through state incentive program.95% confidence | Rep's Stance ✗ Voted No ✗ Opposes Budget & Taxes

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signed · New Mexico · Senate Mar 11, 2026

SB 151: CORPORATE INCOME TAX CHANGES

SB 151 adjusts New Mexico's corporate tax calculation to better align with federal rules for certain income types. It modifies the state's definition of "base income" by adding back specific federal deductions (like interest from state bonds) and subtracting amounts for bonus depreciation and interest expenses that the federal government allows. This bill directly affects corporations operating in New Mexico that file federal tax returns, particularly those with income from controlled foreign corporations. The key change ensures New Mexico's tax calculation accounts for federal adjustments related to foreign income and depreciation, while applying standard apportionment rules to attributed income.

Topics ✓ Budget & TaxesSupports Budget & TaxesModifies corporate tax base to disallow federal deductions (e.g., bond interest), increasing state tax revenue and aligning with fiscal responsibility.95% confidence | Rep's Stance ✗ Voted No ✗ Opposes Budget & Taxes

signed · New Mexico · House Mar 10, 2026

HB 247: CAPITAL OUTLAY CHANGES

HB 247 limits how New Mexico state agencies can manage capital projects (like construction or equipment purchases) by requiring unspent funds to revert to specific state funds. It prohibits reauthorizing projects more than once or for over two years unless 10% of the initial funds are already committed, and mandates that projects over $100,000 must align with an approved infrastructure plan. Unspent general fund capital appropriations must revert to the Capital Development and Reserve Fund (or Tribal Infrastructure Fund for tribal projects) by specific deadlines, with water projects now requiring state agency grant programs instead of direct legislative funding. The bill updates prior laws (2022-2025) to enforce these reversion timelines and spending rules.

Topics ✓ Budget & TaxesSupports Budget & TaxesEnforces fiscal accountability in capital project spending through fund reversion and alignment requirements, promoting responsible budget management.85% confidence | Rep's Stance ✗ Voted No ✗ Opposes Budget & Taxes

signed · New Mexico · House Mar 9, 2026

HB 8: HIGHER ED. MAJOR PROJECTS FUND

HB 8 creates a $300 million Higher Education Major Projects Fund in New Mexico's state treasury, funded by a transfer from the general fund. The bill allows state universities and community colleges to use these funds for major construction projects, including research facilities costing $50 million or more, student housing, and student life facilities like recreation centers. It requires institutions to cover 25-50% of project costs through non-state sources (like donations or bonds), with waivers possible if institutions cannot afford matches. Initial priorities include $150 million for a new UNM medical school, $50 million for a NMSU building, and $100 million for student housing statewide.

Topics ✓ Budget & TaxesSupports Budget & TaxesAllocates $300M from general fund to higher ed projects, requiring institutional cost-sharing, advancing public service funding within fiscal management.95% confidence ✓ EducationSupports EducationCreates $300M fund for higher ed infrastructure (research facilities, housing, recreation), directly advancing educational facilities funding for state universities and colleges.95% confidence | Rep's Stance ✗ Voted No ✗ Opposes Budget & Taxes

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 | Rep's Stance ✗ Voted No ✗ Opposes Budget & Taxes

signed · New Mexico · House Mar 4, 2026

HB 154: ADVANCED ENERGY PRODUCT DEFINITION

HB 154 updates the definition of "advanced energy product" for New Mexico's existing tax credit programs. It specifies that qualifying products include solar components (like panels and cells), wind turbine parts, battery materials, fusion machine components, and critical minerals (such as lithium and cobalt). This definition determines eligibility for the Advanced Energy Equipment Income Tax Credit and Corporate Income Tax Credit, which provide tax relief for manufacturers investing in qualifying facilities within New Mexico. The bill directly affects businesses producing these specific energy technologies who seek to claim the tax credits.

Topics ✓ Budget & TaxesSupports Budget & TaxesExpands tax credit eligibility for energy manufacturers, providing tax relief under existing programs, directly supporting tax policy.90% confidence ✓ EnergySupports EnergyExpands tax credit eligibility for renewable energy components (solar, wind, batteries, critical minerals), directly promoting clean energy investment and infrastructure development.95% confidence ✓ EnvironmentSupports EnvironmentExpands tax credits for renewable energy products (solar, wind, batteries), directly promoting clean energy adoption and reducing fossil fuel reliance95% confidence | Rep's Stance ✗ Voted No ✗ Opposes Budget & Taxes

signed · New Mexico · House Feb 25, 2026

HB 253: PUBLIC EDUCATION CHANGES

HB 253 requires New Mexico school districts and charter schools to report projected enrollment numbers for students in distance learning programs. It changes school funding calculations by excluding distance learning students from membership counts used to determine state funding, and establishes a new approval process for these programs requiring state education department review. The bill also sets enrollment limits for distance learning with specific exceptions, clarifies requirements for students with disabilities in such programs, and renames the "Statewide Cyber Academy Act" as the "Distance Learning Act" while updating related definitions. These changes directly affect school districts, charter schools, and students enrolled in distance learning programs.

Topics ✗ Budget & TaxesOpposes Budget & TaxesExcludes distance learning students from membership counts used for state funding calculations, directly reducing state expenditure on these programs.90% confidence ✗ EducationOpposes EducationExcludes distance learning students from funding calculations and imposes enrollment limits, directly reducing state support and restricting program expansion.90% confidence | Rep's Stance ✓ Voted Yes ✗ Opposes Budget & Taxes

signed · New Mexico · Senate Feb 7, 2026

SB 2: STATE HIGHWAY PROJECT BONDS

SB 2 increases funding for New Mexico's highway projects by raising fees on vehicle registrations and commercial truck taxes. It raises weight-distance tax rates for commercial trucks (affecting freight companies), increases standard passenger vehicle registration fees, and adds new annual fees for electric vehicles ($70-$90) and plug-in hybrids ($35-$45) starting in 2027. All new revenue from these changes goes directly to the State Road Fund to support highway improvements. The bill specifically targets commercial truck operators, all vehicle owners, and electric vehicle owners, with fee amounts varying by vehicle type and registration year.

Topics ✓ Budget & TaxesSupports Budget & TaxesBill increases vehicle registration, truck taxes, and EV fees to fund highway projects via State Road Fund, directly advancing infrastructure budget allocation.95% confidence ✓ TransportationSupports TransportationBill explicitly increases highway funding via vehicle registration, truck tax, and EV fees, directing all new revenue to State Road Fund for infrastructure improvements.95% confidence | Rep's Stance ✗ Voted No ✗ Opposes Budget & Taxes

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 | Rep's Stance ✗ Voted No ✗ Opposes Budget & Taxes

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