SB 125 modifies how school districts and charter schools fund employee insurance. It requires these entities to cover at least 80% of insurance costs for lower-paid staff (under $50,000 salary), 70% for middle-paid staff ($50k-$60k), and 60% for higher-paid staff ($60k+), eliminating previous waivers that allowed them to opt out of the Public School Insurance Authority. The bill also mandates reference-based pricing for hospital services in state health plans, requiring hospitals to charge no more than set rates for covered care. This directly affects school employees and school districts by standardizing their insurance contribution requirements and controlling healthcare costs.
SB 55 increases New Mexico's income tax credit for solar energy installations to 30% of the cost (up from 10%), with a maximum annual credit of $15,000 per taxpayer. It applies directly to homeowners, businesses, and agricultural operations that install qualifying solar thermal or photovoltaic systems in New Mexico. Taxpayers can transfer their unused credit to another taxpayer, and the state will cap total annual credits at $30 million to prevent overspending. The bill takes effect for tax years beginning January 1, 2026, and expires for tax years ending before 2032.
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.
HB 100 appropriates $3 million from the state general fund to the Public Education Department for the Science, Technology, Engineering, and Mathematics (STEM) Innovation Network during fiscal year 2027. This funding directly supports public schools and educational institutions in New Mexico by financing STEM programs and resources. Any unspent funds at the end of fiscal year 2027 must revert to the general fund. The bill establishes a specific, time-bound funding mechanism without altering existing education policies or creating new requirements for schools.
HB 158 requires state agencies receiving funds from the Government Results and Opportunity Expendable Trust to submit detailed accountability and evaluation plans for their programs. These plans must outline goals, evidence-based practices, performance measures, evaluation methods, and public reporting timelines. Agencies must submit initial plans by July 1 each year after funding is approved, with potential revisions by September 1, and final evaluations by July 15 of the program’s last funding year. The bill aims to ensure transparency and measurable outcomes for public spending from this specific trust fund.
HB 101 appropriates $200 million from New Mexico's general fund to the Department of Agriculture for a regional farm-to-food bank program. The bill directly affects food banks and agricultural producers by funding connections between farms and food distribution networks, aiming to reduce food waste and improve food access. Key provisions include allocating funds for fiscal year 2026 and future years with no requirement to return unspent balances to the general fund. The bill is declared an emergency to take effect immediately, prioritizing rapid implementation of the program.
SB 120 creates a tax credit for New Mexico local news organizations that employ journalists. It allows qualifying owners (individuals or businesses) to claim a credit equal to 30% of wages paid to each eligible journalist, capped at $50,000 per journalist annually. The credit applies to taxable years before 2031, with a total annual limit of $4 million across all credits. To qualify, a journalist must work at least 25% of the year for a local news organization that meets specific content, ownership, and audience requirements (e.g., publishing local stories or serving New Mexico audiences).
SB 166 amends New Mexico's budget law to redirect excess revenue from the General Fund to specific state trust funds under defined conditions. If General Fund revenue exceeds spending and the combined excess plus the General Fund Operating Reserve reaches 5-8% of prior-year spending, the excess above 5% is distributed to Medicaid, behavioral health, community benefits, education reform, rural health care, and senior dignity funds. If the combined amount equals or exceeds 8%, the excess above 8% goes to the Government Results and Opportunity Trust. The bill also requires the tax stabilization reserve to replenish the General Fund Operating Reserve if it falls below 1% of appropriations.
SB 204 appropriates $100 million from the general fund to the Higher Education Department to fill gaps caused by reduced or terminated federal funding for research projects at the University of New Mexico, New Mexico State University, and the New Mexico Institute of Mining and Technology. The funding is specifically for projects that could still be completed if the federal funding shortfall were addressed. It applies to fiscal years 2027 and 2028, with any unspent balance reverting to the general fund by the end of 2028. The bill directly supports these public research institutions and their ongoing projects affected by federal funding changes.
SB 197 provides $2.5 million in state funding for the Raton Animal Shelter during fiscal year 2027. The bill directs the Department of Finance and Administration to contract for spay/neuter programs, veterinary care, and physical improvements at the shelter. This funding directly supports the shelter's operations and the animals it serves in Raton, New Mexico. Any unspent funds at year-end would return to the state general fund.
