Sen. Gabriel Ramos

Maddy summarySB 221 amends New Mexico's insurance code to add a new prohibited practice (item P) targeting insurers. It bans insurers from treating an insured's routine inquiry about damage or loss as a formal claim when: the facts aren't covered by the policy, no payment is made, and the insured isn't being deceptive. This directly affects insurance companies operating in New Mexico by prohibiting this specific practice during initial customer interactions. The bill aims to prevent unnecessary formal claim processes for uncovered incidents, ensuring insurers don't misuse claim procedures for uncovered inquiries.

Maddy summarySB 348 requires New Mexico to make annual payments to local governments (like counties) when the state acquires real property that was previously subject to local property taxes. The payments, calculated based on the prior year's property tax liability for that property, are deposited into a new "Payments in Lieu of Taxes Fund" managed by the Taxation and Revenue Department. The Department of Transportation is exempt from this requirement for highway projects, and payments depend on annual state appropriations, taking effect July 1, 2025.