Budget & Taxes

in committee · New Mexico · Senate Mar 24, 2026

SB 212: SKI AREA EQUIPMENT SALE GROSS RECEIPTS

SB 212 exempts sales of qualified ski area equipment (such as snowgroomers, bulldozers, and snowmaking systems) and construction or improvements to buildings on ski areas from the state gross receipts tax. This exemption applies specifically to sales made to ski area operators (businesses running ski resorts) for use exclusively in their operations. The tax exemption, effective July 1, 2026, does not apply to local option taxes and requires taxpayers to report exemptions to the state tax department. The bill also updates tax deduction rules to include ski area projects as eligible for construction material and service deductions.

Topics ✗ Budget & TaxesOpposes Budget & TaxesExempts ski resort equipment sales from gross receipts tax, reducing state tax revenue for this category.90% confidence

Sub-Topics Business Taxes Sales Tax Tax Incentives

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in committee · New Mexico · House Mar 24, 2026

HB 328: STATE FUNDS FOR CONCEALED ID LAW ENFORCEMENT

HB 328 prohibits New Mexico state funds from being used to support joint law enforcement operations between local agencies and federal officers who conceal their identities during enforcement. It directly affects state and local law enforcement agencies receiving public safety funding, banning such partnerships while allowing exceptions for sanctioned undercover operations, SWAT teams, and explosive disposal. Violators face triple damages, fines of $5,000-$10,000 per violation, and legal costs, with a "qui tam" provision enabling private citizens to sue on behalf of the state and share in recovered funds. The bill aims to prevent state money from subsidizing covert federal operations without requiring proof of fraud.

Topics ✗ Budget & TaxesOpposes Budget & TaxesProhibits state funds for certain joint law enforcement operations, restricting budget allocation and defunding prohibited partnerships per bill's funding restrictions.95% confidence ✗ Criminal JusticeOpposes Criminal JusticeRestricts state funding for joint operations with concealed federal officers, defunding partnerships that bypass transparency and oversight in law enforcement.90% confidence ✓ ImmigrationSupports ImmigrationBill restricts state funding for joint operations where federal officers conceal identities, directly limiting state cooperation with federal immigration enforcement.95% confidence

Sub-Topics Law Enforcement Enforcement Sanctuary Policies

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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

Sub-Topics School Funding

in committee · New Mexico · House Mar 24, 2026

HB 176: CREATE ZERO INTEREST DOWN PAYMENT LOAN FUND

HB 176 creates a new "Zero Interest Down Payment Loan Fund" in New Mexico to provide first-time homebuyers with zero-interest loans covering up to 20% of a home's purchase price. The fund will be financed by redirecting specific state revenues - excess oil and gas tax receipts and federal Mineral Leasing Act funds - that would previously have gone to the Early Childhood Education and Behavioral Health funds. Starting in 2026, these redirected funds will instead support the loan program, with the first-time homebuyer loans secured by a 30-year mortgage lien (requiring repayment if the property sells before 30 years). The bill modifies existing distribution rules for these revenue streams to prioritize housing affordability for qualifying New Mexico residents.

Topics ✗ Budget & TaxesOpposes Budget & TaxesDefunds Early Childhood Education (essential program) by redirecting oil/gas tax revenues to housing loans, reallocating state budget funds.90% confidence ✓ HousingSupports HousingCreates zero-interest down payment loans for first-time homebuyers, redirecting funds to advance affordable housing access.95% confidence

Sub-Topics Affordable Housing Homeownership Housing Finance

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in committee · New Mexico · Senate Mar 24, 2026

SB 60: TAX CHANGES

SB 60 reduces tax rates for businesses on income, gross receipts, and gaming devices while increasing the bingo and raffle tax. It repeals nine tax laws - including the estate tax, gasoline tax, and railroad tax - and removes authorization for tax increment funding for redevelopment projects. The bill adds a gross receipts tax exemption for donations to nonprofits and imposes new registration fees for electric vehicles. These changes primarily affect businesses, nonprofits, and local governments managing tax revenues.

Topics ✗ Budget & TaxesOpposes Budget & TaxesRepeals estate/gasoline taxes, removes tax increment funding for redevelopment, and reduces business tax rates - diminishing government revenue sources and fiscal management.85% confidence ✗ TransportationOpposes TransportationRepeals gasoline tax (key transportation funding source) and removes tax increment funding for redevelopment projects, directly reducing transportation infrastructure revenue.90% confidence

Sub-Topics Business Taxes Sales Tax Tax Incentives Rail

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in committee · New Mexico · House Mar 24, 2026

HB 27: TECHNOLOGY JOBS R&D TAX CREDIT EXPANSION

HB 27 expands New Mexico's Technology Jobs and Research & Development Tax Credit by broadening the definition of "qualified expenditure" to include property owned by municipalities or counties for industrial revenue bond projects. This change directly affects technology companies and research facilities in New Mexico that qualify for the credit, allowing them to claim tax credits for costs related to local government-owned facilities used in qualifying R&D activities. The bill modifies existing tax code definitions to include these previously excluded property costs, without altering the credit's base eligibility criteria or calculation method. The amendment applies to businesses meeting standard requirements under the Technology Jobs and R&D Tax Credit Act, such as conducting qualified research in New Mexico facilities.

Topics ✗ Budget & TaxesOpposes Budget & TaxesExpands tax credit for tech businesses, reducing state tax revenue (direct tax break for corporations).90% confidence ✓ TechnologySupports TechnologyExpands tax credits for tech R&D, directly funding innovation and supporting industry growth in technology sector through broader qualified expenditure definition.95% confidence

Sub-Topics Debt & Bonds Government Spending Tax Credits

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in committee · New Mexico · House Mar 24, 2026

HB 193: SCHOLARSHIPS FOR PRIVATE ED & TAX CREDITS

HB 193 creates a scholarship program allowing school tuition organizations to award financial aid to low-income students attending private schools in New Mexico, while establishing tax credits for donors. It directly affects low-income families (defined by federal lunch program income standards) who choose private schools, provided students previously attended a public or home school in New Mexico. Key mechanisms include requiring organizations to allocate 90% of funds to scholarships, prohibiting single-school restrictions, mandating annual financial reports, and requiring audits for organizations receiving $500,000+ in donations. The bill also creates individual and corporate income tax credits for contributions to these scholarship organizations, with strict transparency rules for public reporting.

Topics ✗ Budget & TaxesOpposes Budget & TaxesCreates tax credits for donors, reducing government revenue. Aligns with tax breaks for wealthy donors per 'oppose' indicators, despite benefiting low-income students.90% confidence ✓ EducationSupports EducationCreates scholarship program for low-income students to attend private schools, expanding educational access through direct financial aid for private education options.90% confidence

Sub-Topics Business Taxes Income Tax Higher Education School Choice Student Financial Aid

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