HB 119 adds a new funding category for school districts based on the number of licensed teachers with bilingual endorsements working in approved programs. School districts earn additional state funding for each such teacher, but must verify the teacher holds a valid bilingual endorsement, works in a department-approved program, and receives a salary differential (extra pay) equal to the funding value. This directly affects bilingual-certified teachers and school districts receiving state education funding. The bill modifies New Mexico’s school finance formula to include this category as a separate "program unit" for calculating district funding. It does not change teacher certification requirements but ties funding to verified bilingual staff and their compensation.
HB 145 extends the deadline for businesses to apply for New Mexico's High-Wage Jobs Tax Credit. The bill amends the existing tax code to require annual applications to be filed by December 31 of the year following the qualifying period, instead of the previous deadline. This credit allows eligible employers to claim 8.5% of wages for new high-wage jobs (capped at $12,750 per job), directly affecting businesses creating qualifying positions in New Mexico. The change simplifies the filing timeline but maintains all other eligibility rules, such as wage thresholds, occupancy requirements, and restrictions on jobs created through business mergers.
HB 48 allocates $2 million from the state general fund to the New Mexico Institute of Mining and Technology (NM Tech) for seismology equipment and expanding earthquake monitoring capabilities. The funding supports the Bureau of Geology and Mineral Resources at NM Tech, working with the Oil Conservation Division of the Energy, Minerals and Natural Resources Department. The bill requires all funds to be spent by the end of fiscal year 2027, with any unspent money reverting to the general fund. This directly affects NM Tech's geoscience operations and state agencies responsible for monitoring seismic activity and oil industry compliance. The measure focuses on upgrading physical equipment and network infrastructure for earthquake detection.
SB 42 allocates $10 million from the state general fund to construct, equip, and furnish a new primary health care building in Taos County, directly benefiting residents by expanding local health services. The funds must be spent between fiscal years 2027 and 2030, with any unspent balance reverting to the general fund by 2030. This is a funding bill focused on physical infrastructure, not policy changes.
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.
