New Mexico 2026 Regular Session Status: Enacted 2 D cosponsors

SB 48 — STATE FAIRGROUNDS DISTRICT BONDS

Last action — Signed

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

This bill has been enacted into law. Introduced January 21, 2026. Enacted.

Signed by Governor Michelle Lujan Grisham (Democratic) on March 06, 2026.

Prognosis

Likely to advance 74% · moderate confidence

Where this bill stands today.

Odds of enactment

High

How often bills like it became law.

  • Enacted

    Current position in the legislative process.

  • 2 sponsors

    2 primary, 0 co-sponsors signed on.

  • Single-party support

    Sponsorship is currently within one party (2 D).

  • Cleared a recorded vote

    Passed 2 recorded votes so far.

Prognosis reads this bill's own signals — stage, sponsorship breadth, committee status, recorded votes and cross-state momentum. Odds come from a model trained on which bills have become law.

Bill Text

What changed in the latest version

43 added · 60 removed

Plain-language change summary

The latest version of SB 48 includes a specific authorization for the State Fairgrounds District to issue bonds totaling up to $92 million, secured by part of the state’s gross receipts and gaming tax distributions. This change is important because it allows the district to access significant funding for improvements or projects at the fairgrounds, which could boost local events and economies. The clear framework for bond issuance aims to provide financial support while ensuring accountability in the use of public funds.

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SENATE BILL 48 57TH LEGISLATURE- STATE OF NEW MEXICO - SECOND SESSION, 2026 INTRODUCED BY Mimi Stewart and Janelle Anyanonu 6 8 10 AN ACT RELATING TO FINANCE;
AN ACT RELATING TO FINANCE;
16 BE IT ENACTED BY THE LEGISLATURE OF THE STATE OF NEW MEXICO:
7 BE IT ENACTED BY THE LEGISLATURE OF THE STATE OF NEW MEXICO:
e t 17 SECTION 1.
SECTION 1.
Section 6-35-1 NMSA 1978 (being Laws 2025, w l n d 18 Chapter 83, Section 1) is amended to read:
Section 6-35-1 NMSA 1978 (being Laws 2025, Chapter 83, Section 1) is amended to read:
= = 19 a l "6-35-1.
"6-35-1.
SHORT TITLE.--[Sections 1 through 12 of this i a e r 20 act] Chapter 6, Article 35 NMSA 1978 may be cited as the "State a t m m 21 Fairgrounds District Act"." d r e 22 SECTION 2.
SHORT TITLE.--Chapter 6, Article 35 NMSA 1978 may be cited as the "State Fairgrounds District Act"." SECTION 2.
A new section of the State Fairgrounds c e s k 23 District Act is enacted to read:
A new section of the State Fairgrounds District Act is enacted to read:
e a n b 24 "[NEW MATERIAL] AUTHORIZATION OF ISSUANCE OF BONDS.--The u [ legislature authorizes and approves the district to issue .233106.4GLG bonds, pursuant to the provisions of Paragraph (5) of Subsection C of Section 6-35-7 NMSA 1978, in an amount not to exceed ninety-two million dollars ($92,000,000) in net proceeds of the five hundred million dollars ($500,000,000) in net proceeds authorized to be issued by the district by Subsection A of Section 6-35-7 NMSA 1978, secured by all or a portion of the gross receipts tax distribution and the gaming tax distribution made pursuant to the provisions of Section 7-1-6.73 NMSA 1978, pledged to pay the principal of and interest on the bonds, with such issuance of bonds by the district pursuant to the provisions of the State Fairgrounds District Act." - 2 - 15 e t 17 w l n d 18 = = 19 a l i a e r 20 a t m m 21 d r e 22 c e s k 23 e a n b 24 u [ .233106.4GLG
"AUTHORIZATION OF ISSUANCE OF BONDS.--The legislature authorizes and approves the district to issue bonds, pursuant to the provisions of Paragraph (5) of Subsection C of Section 6-35-7 NMSA 1978, in an amount not to exceed ninety-two million dollars ($92,000,000) in net proceeds of the five hundred million dollars ($500,000,000) in net proceeds authorized to be issued by the district by Subsection A of Section 6-35-7 NMSA 1978, secured by all or a portion of the gross receipts tax distribution and the gaming tax distribution made pursuant to the provisions of Section 7-1-6.73 NMSA 1978, pledged to pay the principal of and interest on the bonds, with such issuance of bonds by the SB 48 Page 1 district pursuant to the provisions of the State Fairgrounds District Act." SB 48 Page 2 4 6 8 25
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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 modifies the State Fairgrounds District Act to authorize the issuance of bonds secured by state tax distributions.

  • Section 6-35-1 NMSA 1978

    "6-35-1. SHORT TITLE.--Chapter 6, Article 35 NMSA 1978 may be cited as the 'State Fairgrounds District Act'."

    This establishes the short title for the Act.

  • "AUTHORIZATION OF ISSUANCE OF BONDS.--The legislature authorizes and approves the district to issue bonds, pursuant to the provisions of Paragraph (5) of Subsection C of Section 6-35-7 NMSA 1978, in an amount not to exceed ninety-two million dollars ($92,000,000) in net proceeds of the five hundred million dollars ($500,000,000) in net proceeds authorized to be issued by the district by Subsection A of Section 6-35-7 NMSA 1978, secured by all or a portion of the gross receipts tax distribution and the gaming tax distribution made pursuant to the provisions of Section 7-1-6.73 NMSA 1978, pledged to pay the principal of and interest on the bonds, with such issuance of bonds by the district pursuant to the provisions of the State Fairgrounds District Act."

    This introduces a new section authorizing the issuance of bonds by the State Fairgrounds District.

Action History

  1. Signed

  2. passed House

  3. DO PASS committee report adopted

  4. DO PASS committee report adopted

  5. Sent to House Commerce & Economic Development Committee & House Taxation & Revenue Committee

  6. passed Senate

  7. DO PASS committee report adopted

  8. DO PASS committee report adopted

  9. germane

  10. Sent to Senate Committees' Committee & Senate Tax, Business and Transportation Committee & Senate Finance Committee

Sponsors

Sponsorship breakdown

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2 sponsors · 0 co-sponsors · 110 not signed on · 18 voted No

Sponsors (2)

Co-sponsors (0)

None.

Not signed on (110)

110 members have not signed on to this bill.

Show all 110 →

"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

Votes

house passage

Passed 42 Yea · 6 Nay · 22 Other
Party YeaNayPresentNot Voting
Democrat 310012
Republican 10609
Unaffiliated 1001
Total 426022
% of votes cast 60%9%0%31%
How each member voted (70)
Member Party Vote
Hernandez, J.F. — Not Voting
Hernandez, J.F. — Yea
Andrea Romero Democrat Yea
Angelica Rubio Democrat Yea
Anita Gonzales Democrat Yea
Art De La Cruz Democrat Yea
Charlotte Little Democrat Not Voting
Christine Chandler Democrat Yea
Cristina Parajón Democrat Yea
Cynthia Borrego Democrat Yea
D. Wonda Johnson Democrat Yea
Dayan Hochman-Vigil Democrat Yea
Debra M. Sariñana Democrat Not Voting
Derrick J. Lente Democrat Not Voting
Doreen Y. Gallegos Democrat Yea
E. Diane Torres-Velásquez Democrat Yea
Eleanor Chávez Democrat Yea
Elizabeth "Liz" Thomson Democrat Yea
G. Andrés Romero Democrat Yea
Janelle Anyanonu Democrat Yea
Javier Martínez Democrat Yea
Joanne J. Ferrary Democrat Yea
Joseph Sanchez Democrat Not Voting
Joy Garratt Democrat Not Voting
Kathleen Cates Democrat Yea
Kristina Ortez Democrat Yea
Linda Serrato Democrat Yea
Marian Matthews Democrat Yea
Marianna Anaya Democrat Yea
Martha Garcia Democrat Yea
Matthew McQueen Democrat Yea
Meredith A. Dixon Democrat Not Voting
Micaela Lara Cadena Democrat Yea
Michelle Paulene Abeyta Democrat Yea
Miguel P. García Democrat Yea
Nathan P. Small Democrat Not Voting
Pamelya Herndon Democrat Not Voting
Patricia A. Lundstrom Democrat Yea
Patricia Roybal Caballero Democrat Not Voting
Raymundo Lara Democrat Yea
Reena Szczepanski Democrat Yea
Sarah Silva Democrat Not Voting
Susan K. Herrera Democrat Not Voting
Tara L. Lujan Democrat Not Voting
Yanira Gurrola Democrat Yea
Alan T. Martinez Republican Nay
Andrea Reeb Republican Yea
Angelita Mejia Republican Nay
Brian G. Baca Republican Not Voting
Catherine J. Cullen Republican Yea
Cathrynn N. Brown Republican Not Voting
Elaine Sena Cortez Republican Yea
Gail Armstrong Republican Nay
Harlan Vincent Republican Not Voting
Jack Chatfield Republican Not Voting
Jenifer Jones Republican Yea
Jimmy G. Mason Republican Yea
John Block Republican Nay
Jonathan A. Henry Republican Nay
Luis M. Terrazas Republican Yea
Mark B. Murphy Republican Not Voting
Mark Duncan Republican Not Voting
Martin R. Zamora Republican Yea
Nicole Chavez Republican Yea
Randall T. Pettigrew Republican Not Voting
Rebecca Dow Republican Not Voting
Rod Montoya Republican Yea
Stefani Lord Republican Not Voting
Tanya Mirabal Moya Republican Yea
William A. Hall II Republican Nay

Official roll call →

senate passage

Passed 26 Yea · 12 Nay · 4 Other
Party YeaNayPresentNot Voting
Democrat 23002
Unaffiliated 1000
Republican 21202
Total 261204
% of votes cast 62%29%0%10%
How each member voted (42)
Member Party Vote
SEDILLO-LOPEZ — Yea
Angel M. Charley Democrat Yea
Antonio Maestas Democrat Yea
Benny Shendo, Jr. Democrat Yea
Carrie Hamblen Democrat Yea
Cindy Nava Democrat Yea
Elizabeth "Liz" Stefanics Democrat Yea
George K. Muñoz Democrat Not Voting
Harold Pope Democrat Yea
Heather Berghmans Democrat Yea
Jeff Steinborn Democrat Yea
Joseph Cervantes Democrat Not Voting
Katy Duhigg Democrat Yea
Leo Jaramillo Democrat Yea
Linda M. López Democrat Yea
Linda M. Trujillo Democrat Yea
Martin Hickey Democrat Yea
Micaelita Debbie O'Malley Democrat Yea
Michael Padilla Democrat Yea
Mimi Stewart Democrat Yea
Natalie Figueroa Democrat Yea
Pete Campos Democrat Yea
Peter Wirth Democrat Yea
Roberto "Bobby" J. Gonzales Democrat Yea
Shannon D. Pinto Democrat Yea
William P. Soules Democrat Yea
Anthony L. Thornton Republican Yea
Candy Spence Ezzell Republican Nay
Craig W. Brandt Republican Not Voting
Crystal Brantley Republican Nay
David M. Gallegos Republican Nay
Gabriel Ramos Republican Nay
James G. Townsend Republican Yea
Jay C. Block Republican Nay
Joshua A. Sanchez Republican Nay
Larry R. Scott Republican Nay
Nicole Tobiassen Republican Not Voting
Pat Boone Republican Nay
Pat Woods Republican Nay
Rex Wilson Republican Nay
Steve D. Lanier Republican Nay
William E. Sharer Republican Nay

Official roll call →

Subjects

taxation finance
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 SB 48?
SB 48 is sponsored by Janelle Anyanonu (Democrat) and Mimi Stewart (Democrat).
What is the current status of SB 48?
This bill has been enacted into law. Introduced January 21, 2026. Enacted.
Where can I track SB 48?
Track SB 48 free on One Click Politics — get push/email alerts when it moves.

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Last checked for changes 2 months ago · updated continuously

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