New Mexico 2024 Regular Session Status: Passed House 1 D cosponsors

HB 48 — OIL AND GAS FUTURE ROYALTY RATE

Last action — action postponed indefinitely

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  1. ✓
    Introduced
  2. ✓
    In Committee
  3. 3
    Passed House
  4. 4
    Passed Senate
  5. 5
    To Executive
  6. 6
    Enacted

This bill died with 2024 Regular Session. It reached “Passed House” and never advanced before the session ended, so it can no longer move — a new version would have to be reintroduced in the current session.

This bill is no longer active — its legislative session has ended, so there is no live prognosis. It would have to be reintroduced in the current session to move again.

Bill Text

How this bill changes current law

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AI-generated reading aid from the bill's amendatory text — verify against the official bill.

The bill amends the royalty rate structure for oil and gas leases on state trust lands to enhance revenue for beneficiaries.

  • Section 19-10-4.3 NMSA 1978

    one-fifth → one-fourth

    Increases the maximum royalty rate for oil from one-fifth to one-fourth.

  • Section 19-10-4.3 NMSA 1978

    one-fifth → one-fourth

    Increases the maximum royalty rate for gas from one-fifth to one-fourth.

  • Section 19-10-4.3 NMSA 1978

    said → the

    Replaces 'said' with 'the' for clarity and standardization in legal wording throughout the lease agreement.

  • Section 19-10-4.3 NMSA 1978

    lessor's water wells → the lessor's water wells

    Clarifies that the use of water is restricted to the lessee from the lessor's water wells.

  • Section 19-10-4.3 NMSA 1978

    said → the

    Standardizes the legal language by changing 'said' to 'the' in multiple instances throughout the lease.

Action History

  1. action postponed indefinitely

  2. Sent to Senate Finance Committee

  3. passed House

  4. DO PASS committee report adopted

  5. DO PASS committee report adopted

  6. Sent to House Energy, Environment and Natural Resources Committee & House Commerce & Economic Development Committee

  7. Sent to House Pre-file

Sponsors

Sponsorship breakdown

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2 sponsors · 0 co-sponsors · 110 not signed on

Sponsors (2)

Co-sponsors (0)

None.

Not signed on (110)

110 members have not signed on to this bill.

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"Not signed on" means a member has not sponsored or co-sponsored this bill — it does not imply opposition. Members flagged Voted No have a recorded No vote on this bill.

Whip count is in markup. Polling the chamber and every recorded vote this session. Only the first open is slow. It’s instant for you after this. Calling the roll · Tallying · Engrossing

Subjects

taxation energy
Cross-referencing the record. Reading this bill against every other bill in the corpus by meaning, not keywords. Only the first open is slow. It’s instant for you after this. Matching · Ranking · Engrossing

Frequently asked questions

Who sponsors HB 48?
HB 48 is sponsored by Tallman, Bill and Matthew McQueen (Democrat).
What is the current status of HB 48?
This bill died with 2024 Regular Session. It reached “Passed House” and never advanced before the session ended, so it can no longer move — a new version would have to be reintroduced in the current session.
Where can I track HB 48?
Track HB 48 free on One Click Politics — get push/email alerts when it moves.

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Last checked for changes 3 months ago · updated continuously

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