New Mexico 2026 Regular Session Status: Enacted 1 D cosponsors

HB 248 — GENERAL OBLIGATION BONDS

Last action — Signed

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

This bill has been enacted into law. Introduced January 30, 2026. Enacted.

Signed by Governor Michelle Lujan Grisham (Democratic) on March 10, 2026.

Odds of enactment

High chance

Based on the sponsor, cosponsors, and committee posture, this bill has a high chance of becoming law.

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A statistical estimate from our own model of past outcomes — an insight, not a guarantee. Policymaking is volatile.

Prognosis

Likely to advance 72% · moderate confidence
  • Enacted

    Current position in the legislative process.

  • 1 sponsor

    1 primary, 0 co-sponsors signed on.

  • Single-party support

    Sponsorship is currently within one party (1 D).

  • Cleared a recorded vote

    Passed 2 recorded votes so far.

Based on stage, sponsorship breadth, committee status, recorded votes, and cross-state momentum — a description of the observable signals, not a prediction.

Bill Text

What changed in the latest version

703 added · 985 removed

Plain-language change summary

The amended bill, known as the "2026 Capital Projects General Obligation Bond Act," now explicitly states that the state will issue bonds to fund improvements for senior centers, libraries, and higher education, while requiring voters to approve these bonds in the 2026 general election. Additionally, the bill includes provisions for property taxes to ensure that the state can pay off the bonds. This is an important change because it involves community input through a public vote, allowing citizens to have a say in funding significant public projects that benefit various sectors in the state.

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HOUSE TAXATION AND REVENUE COMMITTEE SUBSTITUTE FOR HOUSE BILL 248 57TH LEGISLATURE- STATE OF NEW MEXICO - SECOND SESSION, 2026 4 6 8 10 AN ACT RELATING TO GENERAL OBLIGATION BONDS;
AN ACT RELATING TO GENERAL OBLIGATION BONDS;
REQUIRING APPROVAL OF THE REGISTERED VOTERS AT THE 2026 e t 17 GENERAL ELECTION OF THE STATE;
REQUIRING APPROVAL OF THE REGISTERED VOTERS AT THE 2026 GENERAL ELECTION OF THE STATE;
w l n d 18 = = 19 a l BE IT ENACTED BY THE LEGISLATURE OF THE STATE OF NEW MEXICO:
BE IT ENACTED BY THE LEGISLATURE OF THE STATE OF NEW MEXICO:
i a e r 20 SECTION 1.
SECTION 1.
SHORT TITLE.--This act may be cited as the a t m m 21 "2026 Capital Projects General Obligation Bond Act".
SHORT TITLE.--This act may be cited as the "2026 Capital Projects General Obligation Bond Act".
d r e 22 SECTION 2.
SECTION 2.
PURPOSE.--For the purpose of providing funds c e s k 23 for capital expenditures as authorized in the 2026 Capital e a n b 24 Projects General Obligation Bond Act, general obligation u [ indebtedness of the state is authorized for the purposes and in .233856.3 HTRC/HB 248 the amounts set forth in Section 10 of that act.
PURPOSE.--For the purpose of providing funds for capital expenditures as authorized in the 2026 Capital Projects General Obligation Bond Act, general obligation indebtedness of the state is authorized for the purposes and in the amounts set forth in Section 10 of that act.
(2) principal amounts;
HTRC/HB 248/ec Page 1 (2) principal amounts;
The bonds shall be in such form as the state board of finance determines with an appropriate series e t 17 designation and shall bear interest payable as set forth in the w l n d 18 resolution of the state board of finance.
The bonds shall be in such form as the state board of finance determines with an appropriate series designation and shall bear interest payable as set forth in the resolution of the state board of finance.
= = 19 C.
C.
Payment of the principal of the bonds shall a l i a e r 20 begin not more than two years after the date of their issuance, a t m m 21 and the bonds shall mature not later than eleven years after d r e 22 the date of their issuance.
Payment of the principal of the bonds shall begin not more than two years after the date of their issuance, and the bonds shall mature not later than eleven years after the date of their issuance.
Both principal and interest shall c e s k 23 be payable in lawful money of the United States at the office e a n b 24 of the paying agent within or without the state as the state u [ board of finance may direct.
Both principal and interest shall be payable in lawful money of the United States at the office of the paying agent within or without the state as the state board of finance may direct.
.233856.3 - 2 - HTRC/HB 248 D.
D.
The bonds shall be issued in accordance with the provisions of the 2026 Capital Projects General Obligation Bond Act, the Supplemental Public Securities Act and the Uniform Facsimile Signature of Public Officials Act and may be issued in accordance with the Public Securities Short-Term Interest Rate Act.
The bonds shall be issued in accordance with the provisions of the 2026 Capital Projects General HTRC/HB 248/ec Page 2 Obligation Bond Act, the Supplemental Public Securities Act and the Uniform Facsimile Signature of Public Officials Act and may be issued in accordance with the Public Securities Short-Term Interest Rate Act.
e t 17 SECTION 4.
SECTION 4.
EXPENDITURES.--The proceeds from the sale of w l n d 18 the bonds shall be expended solely for providing money to be = = 19 distributed for the purposes and in amounts not to exceed the a l i a e r 20 amounts set forth in Section 10 of the 2026 Capital Projects a t m m 21 General Obligation Bond Act and to pay expenses incurred under d r e 22 Section 6 of that act.
EXPENDITURES.--The proceeds from the sale of the bonds shall be expended solely for providing money to be distributed for the purposes and in amounts not to exceed the amounts set forth in Section 10 of the 2026 Capital Projects General Obligation Bond Act and to pay expenses incurred under Section 6 of that act.
Any proceeds from the sale of the bonds c e s k 23 that are not required for the purposes set forth in Sections 6 e a n b 24 and 10 of that act shall be used for the purpose of paying the u [ principal of and interest on the bonds.
Any proceeds from the sale of the bonds that are not required for the purposes set forth in Sections 6 and 10 of that act shall be used for the purpose of paying the principal of and interest on the bonds.
.233856.3 - 3 - HTRC/HB 248 SECTION 5.
SECTION 5.
If sold at public sale, the state board of finance shall publish a notice of the time and place of sale in a newspaper of general circulation in the state and may also publish the notice in a recognized financial journal outside the state.
If sold at public sale, the state board of finance shall publish a notice of the time and place of sale in a newspaper of HTRC/HB 248/ec Page 3 general circulation in the state and may also publish the notice in a recognized financial journal outside the state.
The notice shall specify the amount, denomination, maturity and description of the bonds to be offered for sale and the place, date and hour at which the sealed bids shall be e t 17 received.
The notice shall specify the amount, denomination, maturity and description of the bonds to be offered for sale and the place, date and hour at which the sealed bids shall be received.
At the time and place specified in the notice, the w l n d 18 state board of finance shall open the bids in public and shall = = 19 award the bonds to the bidder or bidders offering the best a l i a e r 20 price for the bonds.
At the time and place specified in the notice, the state board of finance shall open the bids in public and shall award the bonds to the bidder or bidders offering the best price for the bonds.
The state board of finance may reject any a t m m 21 or all bids and readvertise and may waive any irregularity in a d r e 22 bid.
The state board of finance may reject any or all bids and readvertise and may waive any irregularity in a bid.
Except for the bid of the state, the successful bidder c e s k 23 shall make a deposit of two percent of the principal amount of e a n b 24 the bonds in a form acceptable to the state board of finance no u [ later than the close of business of the day the state board of .233856.3 - 4 - HTRC/HB 248 finance notifies the successful bidder that the bid has been accepted.
Except for the bid of the state, the successful bidder shall make a deposit of two percent of the principal amount of the bonds in a form acceptable to the state board of finance no later than the close of business of the day the state board of finance notifies the successful bidder that the bid has been accepted.
The bonds are legal investments for any person or board charged with the investment of any public funds and may be accepted as security for any deposit of public money.
The bonds are legal investments for any person or board charged with the investment of any public funds and HTRC/HB 248/ec Page 4 may be accepted as security for any deposit of public money.
e t 17 SECTION 7.
SECTION 7.
PROPERTY TAX LEVY.--To provide for the payment w l n d 18 of the principal of and interest on the bonds issued and sold = = 19 pursuant to the provisions of the 2026 Capital Projects General a l i a e r 20 Obligation Bond Act, there shall be and there is hereby imposed a t m m 21 and levied during each year in which any of the bonds are d r e 22 outstanding an ad valorem tax on all property in the state c e s k 23 subject to property taxation for state purposes sufficient to e a n b 24 pay the interest as it becomes due on the bonds, together with u [ an amount sufficient to provide a sinking fund to pay the .233856.3 - 5 - HTRC/HB 248 principal of the bonds as it becomes due, and, if permitted by law, ad valorem taxes may be collected to pay administrative costs incident to the collection of such taxes.
PROPERTY TAX LEVY.--To provide for the payment of the principal of and interest on the bonds issued and sold pursuant to the provisions of the 2026 Capital Projects General Obligation Bond Act, there shall be and there is hereby imposed and levied during each year in which any of the bonds are outstanding an ad valorem tax on all property in the state subject to property taxation for state purposes sufficient to pay the interest as it becomes due on the bonds, together with an amount sufficient to provide a sinking fund to pay the principal of the bonds as it becomes due, and, if permitted by law, ad valorem taxes may be collected to pay administrative costs incident to the collection of such taxes.
It is the duty of all tax officials and authorities to cause these taxes to be imposed, levied, assessed and collected.
It is the duty of all tax HTRC/HB 248/ec Page 5 officials and authorities to cause these taxes to be imposed, levied, assessed and collected.
IRREPEALABLE CONTRACT--AUTHORITY FOR e t 17 ISSUANCE.--An owner of bonds issued pursuant to the provisions w l n d 18 of the 2026 Capital Projects General Obligation Bond Act may, = = 19 a l either at law or in equity, by suit, action or mandamus, i a e r 20 enforce and compel the performance of the duties required by a t m m 21 that act of any officer or entity mentioned in that act.
IRREPEALABLE CONTRACT--AUTHORITY FOR ISSUANCE.--An owner of bonds issued pursuant to the provisions of the 2026 Capital Projects General Obligation Bond Act may, either at law or in equity, by suit, action or mandamus, enforce and compel the performance of the duties required by that act of any officer or entity mentioned in that act.
The d r e 22 provisions of that act constitute an irrepealable contract with c e s k 23 the owners of any of the bonds issued pursuant to that act for e a n b 24 the faithful performance of which the full faith and credit of u [ the state is pledged.
The provisions of that act constitute an irrepealable contract with the owners of any of the bonds issued pursuant to that act for the faithful performance of which the full faith and credit of the state is pledged.
Without reference to any other act of .233856.3 - 6 - HTRC/HB 248 the legislature, the 2026 Capital Projects General Obligation Bond Act is full authority for the issuance and sale of the bonds authorized in that act, and such bonds shall have all the qualities of investment securities under the Uniform Commercial Code, shall not be invalid for any irregularity or defect in the proceedings for the issuance and sale of the bonds and shall be incontestable in the hands of bona fide purchasers or holders thereof for value.
Without reference to any other act of the legislature, the 2026 Capital Projects General Obligation Bond Act is full authority for the issuance and sale of the bonds authorized in that act, and such bonds shall have all the qualities of investment securities under the Uniform Commercial Code, shall not be invalid for any irregularity or defect in the HTRC/HB 248/ec Page 6 proceedings for the issuance and sale of the bonds and shall be incontestable in the hands of bona fide purchasers or holders thereof for value.
e t 17 A.
A.
for senior citizen facility improvement, w l n d 18 construction and equipment acquisition projects to the aging = = 19 and long-term services department:
for senior citizen facility improvement, construction and equipment acquisition projects to the aging and long-term services department:
a l i a e r 20 (1) one million dollars ($1,000,000) to plan, a t m m 21 design, construct, furnish and equip improvements to the d r e 22 Barelas senior center in Albuquerque in Bernalillo county;
(1) one million dollars ($1,000,000) to plan, design, construct, furnish and equip improvements to the Barelas senior center in Albuquerque in Bernalillo county;
c e s k 23 (2) seven hundred fifty thousand dollars e a n b 24 ($750,000) to purchase and equip vehicles for the CASA kitchen u [ in Albuquerque in Bernalillo county;
(2) seven hundred fifty thousand dollars ($750,000) to purchase and equip vehicles for the CASA kitchen in Albuquerque in Bernalillo county;
.233856.3 - 7 - HTRC/HB 248 (3) three million dollars ($3,000,000) to plan, design, construct, furnish and equip improvements to the Cibola Loop multigenerational center in Albuquerque in Bernalillo county;
(3) three million dollars ($3,000,000) to plan, design, construct, furnish and equip improvements to the Cibola Loop multigenerational center in Albuquerque in Bernalillo county;
(4) three hundred thirty thousand dollars ($330,000) to purchase and install meals and other equipment and to plan, design, construct, furnish and equip improvements to the Los Volcanes senior center in Albuquerque in Bernalillo county;
HTRC/HB 248/ec Page 7 (4) three hundred thirty thousand dollars ($330,000) to purchase and install meals and other equipment and to plan, design, construct, furnish and equip improvements to the Los Volcanes senior center in Albuquerque in Bernalillo county;
(6) fifty-five thousand dollars ($55,000) to purchase and install meals and other equipment for the North e t 17 Domingo Baca multigenerational center in Albuquerque in w l n d 18 Bernalillo county;
(6) fifty-five thousand dollars ($55,000) to purchase and install meals and other equipment for the North Domingo Baca multigenerational center in Albuquerque in Bernalillo county;
= = 19 (7) twenty-one thousand five hundred dollars a l i a e r 20 ($21,500) to purchase and install meals and other equipment for a t m m 21 the North Valley senior center in Albuquerque in Bernalillo d r e 22 county;
(7) twenty-one thousand five hundred dollars ($21,500) to purchase and install meals and other equipment for the North Valley senior center in Albuquerque in Bernalillo county;
c e s k 23 (8) twenty thousand dollars ($20,000) to e a n b 24 purchase and install meals and other equipment for the Palo u [ Duro senior center in Albuquerque in Bernalillo county;
(8) twenty thousand dollars ($20,000) to purchase and install meals and other equipment for the Palo Duro senior center in Albuquerque in Bernalillo county;
.233856.3 - 8 - HTRC/HB 248 (9) three hundred fifty thousand dollars ($350,000) to purchase and equip vehicles for the elder center in the Pueblo of Isleta in Bernalillo county;
(9) three hundred fifty thousand dollars ($350,000) to purchase and equip vehicles for the elder center in the Pueblo of Isleta in Bernalillo county;
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(10) two hundred fifty thousand dollars ($250,000) to purchase and equip vehicles and to plan, design, construct, furnish and equip improvements to the Quemado senior center in Catron county;
(10) two hundred fifty thousand dollars HTRC/HB 248/ec Page 8 ($250,000) to purchase and equip vehicles and to plan, design, construct, furnish and equip improvements to the Quemado senior center in Catron county;
e t 17 (14) thirty-one thousand dollars ($31,000) to w l n d 18 plan, design, construct, furnish and equip improvements, = = 19 including parking lots, to La Casa senior center in Clovis in a l i a e r 20 Curry county;
(14) thirty-one thousand dollars ($31,000) to plan, design, construct, furnish and equip improvements, including parking lots, to La Casa senior center in Clovis in Curry county;
a t m m 21 (15) one hundred ten thousand dollars d r e 22 ($110,000) to purchase and equip vehicles for the Melrose c e s k 23 senior center in Melrose in Curry county;
(15) one hundred ten thousand dollars ($110,000) to purchase and equip vehicles for the Melrose senior center in Melrose in Curry county;
e a n b 24 (16) one hundred sixty thousand dollars u [ ($160,000) to purchase and equip vehicles for the Anthony .233856.3 - 9 - HTRC/HB 248 senior center in Anthony in Dona Ana county;
(16) one hundred sixty thousand dollars ($160,000) to purchase and equip vehicles for the Anthony senior center in Anthony in Dona Ana county;
(17) forty thousand dollars ($40,000) to purchase and equip vehicles for the Dona Ana community center in Las Cruces in Dona Ana county;
(17) forty thousand dollars ($40,000) to purchase and equip vehicles for the Dona Ana community center HTRC/HB 248/ec Page 9 in Las Cruces in Dona Ana county;
e t 17 (22) two hundred forty-five thousand dollars w l n d 18 ($245,000) to purchase and equip vehicles for the San Jose = = 19 senior center in Carlsbad in Eddy county;
(22) two hundred forty-five thousand dollars ($245,000) to purchase and equip vehicles for the San Jose senior center in Carlsbad in Eddy county;
a l i a e r 20 (23) two hundred thousand dollars ($200,000) a t m m 21 to purchase and install meals and other equipment for the Santa d r e 22 Clara senior center in Santa Clara in Grant county;
(23) two hundred thousand dollars ($200,000) to purchase and install meals and other equipment for the Santa Clara senior center in Santa Clara in Grant county;
c e s k 23 (24) nine hundred thousand dollars ($900,000) e a n b 24 to purchase and equip vehicles and to plan, design, construct, u [ furnish and equip improvements to the Silver City senior center .233856.3 - 10 - HTRC/HB 248 in Silver City in Grant county;
(24) nine hundred thousand dollars ($900,000) to purchase and equip vehicles and to plan, design, construct, furnish and equip improvements to the Silver City senior center in Silver City in Grant county;
(25) thirty thousand dollars ($30,000) to purchase and install meals and other equipment for La Loma senior center in Anton Chico in Guadalupe county;
(25) thirty thousand dollars ($30,000) to purchase and install meals and other equipment for La Loma HTRC/HB 248/ec Page 10 senior center in Anton Chico in Guadalupe county;
(29) fifty thousand dollars ($50,000) to purchase and equip vehicles for the Eunice senior center in e t 17 Eunice in Lea county;
(29) fifty thousand dollars ($50,000) to purchase and equip vehicles for the Eunice senior center in Eunice in Lea county;
w l n d 18 (30) six hundred fifty thousand dollars = = 19 ($650,000) to plan, design, construct, furnish and equip a l i a e r 20 improvements, including parking facilities, to the Jal senior a t m m 21 center in Jal in Lea county;
(30) six hundred fifty thousand dollars ($650,000) to plan, design, construct, furnish and equip improvements, including parking facilities, to the Jal senior center in Jal in Lea county;
d r e 22 (31) forty-five thousand dollars ($45,000) to c e s k 23 purchase and install meals and other equipment for the Capitan e a n b 24 senior center in Capitan in Lincoln county;
(31) forty-five thousand dollars ($45,000) to purchase and install meals and other equipment for the Capitan senior center in Capitan in Lincoln county;
u [ (32) two million six hundred thousand dollars .233856.3 - 11 - HTRC/HB 248 ($2,600,000) to plan, design, construct, furnish and equip improvements, including parking lots, to the Ruidoso community center in Ruidoso in Lincoln county;
(32) two million six hundred thousand dollars ($2,600,000) to plan, design, construct, furnish and equip improvements, including parking lots, to the Ruidoso community center in Ruidoso in Lincoln county;
(33) one hundred twenty-five thousand dollars ($125,000) to purchase and equip vehicles for the Betty Erhart senior center in Los Alamos in Los Alamos county;
HTRC/HB 248/ec Page 11 (33) one hundred twenty-five thousand dollars ($125,000) to purchase and equip vehicles for the Betty Erhart senior center in Los Alamos in Los Alamos county;
(36) two hundred sixty thousand dollars ($260,000) to purchase and equip vehicles for senior centers in e t 17 Otero county;
(36) two hundred sixty thousand dollars ($260,000) to purchase and equip vehicles for senior centers in Otero county;
w l n d 18 (37) one hundred fifty thousand dollars = = 19 ($150,000) to purchase and equip vehicles for La Arboleda a l i a e r 20 senior center in Chimayo in Rio Arriba county;
(37) one hundred fifty thousand dollars ($150,000) to purchase and equip vehicles for La Arboleda senior center in Chimayo in Rio Arriba county;
a t m m 21 (38) five hundred sixty-five thousand dollars d r e 22 ($565,000) to plan, design, construct and equip improvements to c e s k 23 the Santa Clara Pueblo adult day care in the Pueblo of Santa e a n b 24 Clara in Rio Arriba county;
(38) five hundred sixty-five thousand dollars ($565,000) to plan, design, construct and equip improvements to the Santa Clara Pueblo adult day care in the Pueblo of Santa Clara in Rio Arriba county;
u [ (39) thirty thousand dollars ($30,000) to .233856.3 - 12 - HTRC/HB 248 purchase and equip vehicles for the Santa Clara Pueblo senior center in the Pueblo of Santa Clara in Rio Arriba county;
(39) thirty thousand dollars ($30,000) to purchase and equip vehicles for the Santa Clara Pueblo senior center in the Pueblo of Santa Clara in Rio Arriba county;
(40) fifty thousand dollars ($50,000) to purchase and equip vehicles and to plan, design, construct and equip improvements, including parking lots, to the Aztec senior center in Aztec in San Juan county;
HTRC/HB 248/ec Page 12 (40) fifty thousand dollars ($50,000) to purchase and equip vehicles and to plan, design, construct and equip improvements, including parking lots, to the Aztec senior center in Aztec in San Juan county;
e t 17 (44) two hundred eighty thousand dollars w l n d 18 ($280,000) to plan, design, construct, furnish and equip = = 19 improvements, including the purchase and installation of a a l i a e r 20 walk-in refrigerator and freezer unit, for the Meadowlark a t m m 21 senior center in Rio Rancho in Sandoval county;
(44) two hundred eighty thousand dollars ($280,000) to plan, design, construct, furnish and equip improvements, including the purchase and installation of a walk-in refrigerator and freezer unit, for the Meadowlark senior center in Rio Rancho in Sandoval county;
d r e 22 (45) two hundred ten thousand dollars c e s k 23 ($210,000) to purchase and equip vehicles and to plan, design, e a n b 24 construct and equip improvements to the Santo Domingo Pueblo u [ senior center in the Pueblo of Santo Domingo in Sandoval .233856.3 - 13 - HTRC/HB 248 county;
(45) two hundred ten thousand dollars ($210,000) to purchase and equip vehicles and to plan, design, construct and equip improvements to the Santo Domingo Pueblo senior center in the Pueblo of Santo Domingo in Sandoval county;
(46) eight hundred fifty thousand dollars ($850,000) to plan, design, construct, furnish and equip improvements, including paving a dirt road, for the Whitehorse Lake senior center in McKinley county;
(46) eight hundred fifty thousand dollars HTRC/HB 248/ec Page 13 ($850,000) to plan, design, construct, furnish and equip improvements, including paving a dirt road, for the Whitehorse Lake senior center in McKinley county;
(50) eighty-five thousand dollars ($85,000) to purchase and equip vehicles for the El Rancho senior center in e t 17 Santa Fe county;
(50) eighty-five thousand dollars ($85,000) to purchase and equip vehicles for the El Rancho senior center in Santa Fe county;
w l n d 18 (51) one hundred sixty thousand dollars = = 19 ($160,000) to purchase and equip vehicles for senior services a l i a e r 20 in Santa Fe county;
(51) one hundred sixty thousand dollars ($160,000) to purchase and equip vehicles for senior services in Santa Fe county;
a t m m 21 (52) eighty-five thousand dollars ($85,000) to d r e 22 purchase and equip vehicles for the Santa Cruz senior center in c e s k 23 Santa Cruz in Santa Fe county;
(52) eighty-five thousand dollars ($85,000) to purchase and equip vehicles for the Santa Cruz senior center in Santa Cruz in Santa Fe county;
e a n b 24 (53) thirty thousand dollars ($30,000) to u [ purchase and install meals and other equipment for the El .233856.3 - 14 - HTRC/HB 248 Rancho senior center in Santa Fe county;
(53) thirty thousand dollars ($30,000) to purchase and install meals and other equipment for the El Rancho senior center in Santa Fe county;
(54) twenty-five thousand dollars ($25,000) to purchase and install meals and other equipment at the Ken James senior center in Truth or Consequences in Sierra county;
(54) twenty-five thousand dollars ($25,000) HTRC/HB 248/ec Page 14 to purchase and install meals and other equipment at the Ken James senior center in Truth or Consequences in Sierra county;
(58) one hundred ten thousand dollars e t 17 ($110,000) to purchase and install meals and other equipment w l n d 18 for the Clayton senior center in Clayton in Union county;
(58) one hundred ten thousand dollars ($110,000) to purchase and install meals and other equipment for the Clayton senior center in Clayton in Union county;
= = 19 (59) six hundred eighty-five thousand dollars a l i a e r 20 ($685,000) to purchase and equip vehicles and to plan, design, a t m m 21 construct, furnish and equip improvements to the Belen senior d r e 22 center in Belen in Valencia county;
(59) six hundred eighty-five thousand dollars ($685,000) to purchase and equip vehicles and to plan, design, construct, furnish and equip improvements to the Belen senior center in Belen in Valencia county;
and c e s k 23 (60) one million five hundred thousand dollars e a n b 24 ($1,500,000) to plan, design, construct, furnish and equip u [ improvements for the Highland Meadow senior center in Valencia .233856.3 - 15 - HTRC/HB 248 county;
and (60) one million five hundred thousand dollars ($1,500,000) to plan, design, construct, furnish and equip improvements for the Highland Meadow senior center in Valencia county;
B.
HTRC/HB 248/ec Page 15 B.
and (b) one million dollars ($1,000,000) for equipment, library furniture, fixtures and supplemental library acquisitions, including print, non-print and electronic resources, collaborative library resources and information e t 17 technology projects, and for the purchase and installation of w l n d 18 broadband internet equipment and infrastructure at tribal = = 19 libraries statewide;
and (b) one million dollars ($1,000,000) for equipment, library furniture, fixtures and supplemental library acquisitions, including print, non-print and electronic resources, collaborative library resources and information technology projects, and for the purchase and installation of broadband internet equipment and infrastructure at tribal libraries statewide;
a l i a e r 20 (2) six million dollars ($6,000,000) to the a t m m 21 higher education department for supplemental library d r e 22 acquisitions, including books, equipment, electronic resources, c e s k 23 collaborative library resources and information technology e a n b 24 projects, for academic libraries statewide;
(2) six million dollars ($6,000,000) to the higher education department for supplemental library acquisitions, including books, equipment, electronic resources, collaborative library resources and information technology projects, for academic libraries statewide;
and u [ (3) six million dollars ($6,000,000) to the .233856.3 - 16 - HTRC/HB 248 public education department for equipment and supplemental library resource acquisitions, including print, non-print and electronic resources and collaborative library resources and information technology projects, at public school libraries statewide;
and (3) six million dollars ($6,000,000) to the public education department for equipment and supplemental HTRC/HB 248/ec Page 16 library resource acquisitions, including print, non-print and electronic resources and collaborative library resources and information technology projects, at public school libraries statewide;
(b) three million dollars ($3,000,000) to plan, design, construct and equip improvements to the e t 17 Roswell branch campus of eastern New Mexico university in w l n d 18 Roswell in Chaves county;
(b) three million dollars ($3,000,000) to plan, design, construct and equip improvements to the Roswell branch campus of eastern New Mexico university in Roswell in Chaves county;
and = = 19 (c) nine hundred seventy-five thousand a l i a e r 20 dollars ($975,000) to plan, design, construct, furnish and a t m m 21 equip a child care laboratory on the Ruidoso branch campus of d r e 22 eastern New Mexico university in Ruidoso in Lincoln county;
and (c) nine hundred seventy-five thousand dollars ($975,000) to plan, design, construct, furnish and equip a child care laboratory on the Ruidoso branch campus of eastern New Mexico university in Ruidoso in Lincoln county;
c e s k 23 (2) to the board of regents of New Mexico e a n b 24 highlands university, nine million dollars ($9,000,000) to u [ plan, design, construct, furnish and equip improvements to the .233856.3 - 17 - HTRC/HB 248 Thomas C.
(2) to the board of regents of New Mexico highlands university, nine million dollars ($9,000,000) to plan, design, construct, furnish and equip improvements to the Thomas C.
Donnelly library and annex at New Mexico highlands university in Las Vegas in San Miguel county;
Donnelly library and annex at New Mexico HTRC/HB 248/ec Page 17 highlands university in Las Vegas in San Miguel county;
(a) fifty-five million dollars e t 17 ($55,000,000) to plan, design, construct, furnish and equip a w l n d 18 new multidisciplinary academic facility, including demolition, = = 19 at New Mexico state university in Las Cruces in Dona Ana a l i a e r 20 county;
(a) fifty-five million dollars ($55,000,000) to plan, design, construct, furnish and equip a new multidisciplinary academic facility, including demolition, at New Mexico state university in Las Cruces in Dona Ana county;
a t m m 21 (b) twenty million dollars ($20,000,000) d r e 22 to plan, design, construct, furnish and equip improvements, c e s k 23 including critical infrastructure, to New Mexico state e a n b 24 university in Las Cruces in Dona Ana county;
(b) twenty million dollars ($20,000,000) to plan, design, construct, furnish and equip improvements, including critical infrastructure, to New Mexico state university in Las Cruces in Dona Ana county;
u [ (c) one million dollars ($1,000,000) to .233856.3 - 18 - HTRC/HB 248 plan, design, construct, furnish and equip improvements, including electronic access control, at the Alamogordo branch campus of New Mexico state university in Alamogordo in Otero county;
(c) one million dollars ($1,000,000) to plan, design, construct, furnish and equip improvements, HTRC/HB 248/ec Page 18 including electronic access control, at the Alamogordo branch campus of New Mexico state university in Alamogordo in Otero county;
e t 17 (5) to the board of regents of the university w l n d 18 of New Mexico:
(5) to the board of regents of the university of New Mexico:
= = 19 (a) one hundred sixteen million dollars a l i a e r 20 ($116,000,000) to plan, design, construct, furnish and equip a t m m 21 the school of medicine at the university of New Mexico in d r e 22 Albuquerque in Bernalillo county;
(a) one hundred sixteen million dollars ($116,000,000) to plan, design, construct, furnish and equip the school of medicine at the university of New Mexico in Albuquerque in Bernalillo county;
c e s k 23 (b) three million dollars ($3,000,000) e a n b 24 to plan, design, construct, furnish and equip improvements to u [ building 1 and building 7 at the Los Alamos branch campus of .233856.3 - 19 - HTRC/HB 248 the university of New Mexico in Los Alamos in Los Alamos county;
(b) three million dollars ($3,000,000) to plan, design, construct, furnish and equip improvements to building 1 and building 7 at the Los Alamos branch campus of HTRC/HB 248/ec Page 19 the university of New Mexico in Los Alamos in Los Alamos county;
(6) to the board of regents of western New Mexico university, three million dollars ($3,000,000) to plan, e t 17 design, construct, furnish and equip improvements to western w l n d 18 New Mexico university in Silver City in Grant county;
(6) to the board of regents of western New Mexico university, three million dollars ($3,000,000) to plan, design, construct, furnish and equip improvements to western New Mexico university in Silver City in Grant county;
= = 19 (7) to the board of regents of northern New a l i a e r 20 Mexico state school, five million dollars ($5,000,000) to plan, a t m m 21 design, construct, furnish and equip improvements, including d r e 22 infrastructure, at northern New Mexico state school in Espanola c e s k 23 in Rio Arriba county;
(7) to the board of regents of northern New Mexico state school, five million dollars ($5,000,000) to plan, design, construct, furnish and equip improvements, including infrastructure, at northern New Mexico state school in Espanola in Rio Arriba county;
e a n b 24 (8) to the board of regents of the New Mexico u [ military institute, five million dollars ($5,000,000) to plan, .233856.3 - 20 - HTRC/HB 248 design, construct, furnish and equip an educational facility at the New Mexico military institute in Roswell in Chaves county;
(8) to the board of regents of the New Mexico military institute, five million dollars ($5,000,000) HTRC/HB 248/ec Page 20 to plan, design, construct, furnish and equip an educational facility at the New Mexico military institute in Roswell in Chaves county;
e t 17 (c) one million dollars ($1,000,000) to w l n d 18 plan, design, construct, furnish and equip improvements to the = = 19 John Shepherd administration building at New Mexico junior a l i a e r 20 college in Hobbs in Lea county;
(c) one million dollars ($1,000,000) to plan, design, construct, furnish and equip improvements to the John Shepherd administration building at New Mexico junior college in Hobbs in Lea county;
a t m m 21 (d) two million dollars ($2,000,000) to d r e 22 plan, design, construct, furnish and equip improvements to the c e s k 23 allied health building at Luna community college in Las Vegas e a n b 24 in San Miguel county;
(d) two million dollars ($2,000,000) to plan, design, construct, furnish and equip improvements to the allied health building at Luna community college in Las HTRC/HB 248/ec Page 21 Vegas in San Miguel county;
u [ (e) seven hundred fifty thousand dollars .233856.3 - 21 - HTRC/HB 248 ($750,000) to plan, design, construct, furnish and equip improvements, including heating and cooling systems, to Mesalands community college in Tucumcari in Quay county;
(e) seven hundred fifty thousand dollars ($750,000) to plan, design, construct, furnish and equip improvements, including heating and cooling systems, to Mesalands community college in Tucumcari in Quay county;
e t 17 (i) one million dollars ($1,000,000) to w l n d 18 plan, design, construct, furnish and equip improvements to the = = 19 institute of American Indian arts in Santa Fe in Santa Fe a l i a e r 20 county;
(i) one million dollars ($1,000,000) to plan, design, construct, furnish and equip improvements to the institute of American Indian arts in Santa Fe in Santa Fe county;
a t m m 21 (j) two million dollars ($2,000,000) to d r e 22 plan, design, construct, furnish and equip improvements to Diné c e s k 23 college facilities in New Mexico;
(j) two million dollars ($2,000,000) to plan, design, construct, furnish and equip improvements to Diné college facilities in New Mexico;
and e a n b 24 (k) two million dollars ($2,000,000) to u [ plan, design, construct, furnish and equip improvements to .233856.3 - 22 - HTRC/HB 248 Navajo technical university facilities in New Mexico.
and HTRC/HB 248/ec Page 22 (k) two million dollars ($2,000,000) to plan, design, construct, furnish and equip improvements to Navajo technical university facilities in New Mexico.
(1) "The 2026 Capital Projects General e t 17 Obligation Bond Act authorizes the issuance and sale of senior w l n d 18 citizen facility improvement, construction and equipment = = 19 acquisition bonds.
(1) "The 2026 Capital Projects General Obligation Bond Act authorizes the issuance and sale of senior citizen facility improvement, construction and equipment acquisition bonds.
Shall the state be authorized to issue a l i a e r 20 general obligation bonds in an amount not to exceed twenty-one a t m m 21 million five hundred eighty-two thousand two hundred thirteen d r e 22 dollars ($21,582,213) to make capital expenditures for certain c e s k 23 senior citizen facility improvement, construction and equipment e a n b 24 acquisition projects and provide for a general property tax u [ imposition and levy for the payment of principal of, interest .233856.3 - 23 - HTRC/HB 248 on and expenses incurred in connection with the issuance of the bonds and the collection of the tax as permitted by law? For________________ Against___________________";
Shall the state be authorized to issue general obligation bonds in an amount not to exceed twenty-one million five hundred eighty-two thousand two hundred thirteen dollars ($21,582,213) to make capital HTRC/HB 248/ec Page 23 expenditures for certain senior citizen facility improvement, construction and equipment acquisition projects and provide for a general property tax imposition and levy for the payment of principal of, interest on and expenses incurred in connection with the issuance of the bonds and the collection of the tax as permitted by law? For________________ Against___________________";
Shall the state be authorized to issue general obligation bonds in an amount not to exceed nineteen million three hundred twenty-four thousand one hundred eighty- eight dollars ($19,324,188) to make capital expenditures for academic, public school, public and tribal library resource acquisitions and provide for a general property tax imposition and levy for the payment of principal of, interest on and expenses incurred in connection with the issuance of the bonds and the collection of the tax as permitted by law? For________________ Against___________________";
Shall the state be authorized to issue general obligation bonds in an amount not to exceed nineteen million three hundred twenty-four thousand one hundred eighty-eight dollars ($19,324,188) to make capital expenditures for academic, public school, public and tribal library resource acquisitions and provide for a general property tax imposition and levy for the payment of principal of, interest on and expenses incurred in connection with the issuance of the bonds and the collection of the tax as permitted by law? For________________ Against___________________";
and e t 17 (3) "The 2026 Capital Projects General w l n d 18 Obligation Bond Act authorizes the issuance and sale of higher = = 19 education, special schools and tribal schools capital a l i a e r 20 improvement and acquisition bonds.
and (3) "The 2026 Capital Projects General Obligation Bond Act authorizes the issuance and sale of higher education, special schools and tribal schools capital improvement and acquisition bonds.
Shall the state be a t m m 21 authorized to issue general obligation bonds in an amount not d r e 22 to exceed three hundred fifty-two million two hundred twenty- c e s k 23 five thousand three hundred seventy-nine dollars ($352,225,379) e a n b 24 to make capital expenditures for certain higher education, u [ special schools and tribal schools capital improvements and .233856.3 - 24 - HTRC/HB 248 acquisitions and provide for a general property tax imposition and levy for the payment of principal of, interest on and expenses incurred in connection with the issuance of the bonds and the collection of the tax as permitted by law? For________________ Against___________________".
Shall the state be HTRC/HB 248/ec Page 24 authorized to issue general obligation bonds in an amount not to exceed three hundred fifty-two million two hundred twenty- five thousand three hundred seventy-nine dollars ($352,225,379) to make capital expenditures for certain higher education, special schools and tribal schools capital improvements and acquisitions and provide for a general property tax imposition and levy for the payment of principal of, interest on and expenses incurred in connection with the issuance of the bonds and the collection of the tax as permitted by law? For________________ Against___________________".
The failure of a question to be approved by the electorate at the 2026 general election shall not affect those questions that are approved at the election.
The failure of a question to be approved by the electorate at the general election shall not affect those questions that are approved at the election.
The secretary of state shall include the e t 17 submission of the capital projects general obligation bonds to w l n d 18 the people at the 2026 general election, and it shall be = = 19 included in the general election proclamation.
The secretary of state shall include the submission of the capital projects general obligation bonds to the people at the 2026 general election, and it shall be included in the general election proclamation.
The secretary a l i a e r 20 of state shall cause the 2026 Capital Projects General a t m m 21 Obligation Bond Act to be published in full in at least one d r e 22 newspaper in each county of the state if one be published c e s k 23 therein, once each week, for four successive weeks next e a n b 24 preceding the general election as required by the constitution u [ of New Mexico.
The secretary HTRC/HB 248/ec Page 25 of state shall cause the 2026 Capital Projects General Obligation Bond Act to be published in full in at least one newspaper in each county of the state if one be published therein, once each week, for four successive weeks next preceding the general election as required by the constitution of New Mexico.
.233856.3 - 25 - HTRC/HB 248 SECTION 12.
SECTION 12.
The state agencies and state institutions to which money has been appropriated in the 2026 Capital Projects General Obligation Bond Act shall be responsible for monitoring the projects funded in that act to ensure compliance with the constitution and laws of New Mexico and, if applicable, the e t 17 federal Internal Revenue Code of 1986, as amended, and shall w l n d 18 cause to be reverted any unexpended balance remaining at the = = 19 a l earlier of the third full fiscal year after issuance of the i a e r 20 bonds or the termination or completion of the specific project.
The state agencies and state institutions to which money has been appropriated in the 2026 Capital Projects General Obligation Bond Act shall be responsible for monitoring the projects funded in that act to ensure compliance with the constitution and laws of New Mexico and, if applicable, the federal Internal Revenue Code of 1986, as amended, and shall cause to be reverted any unexpended HTRC/HB 248/ec Page 26 balance remaining at the earlier of the third full fiscal year after issuance of the bonds or the termination or completion of the specific project.
a t m m 21 Reverted funds shall be deposited in the debt service fund d r e 22 established by the state treasurer for the purpose of paying c e s k 23 the principal of and interest on the state's general obligation e a n b 24 bonds.
Reverted funds shall be deposited in the debt service fund established by the state treasurer for the purpose of paying the principal of and interest on the state's general obligation bonds.
u [ SECTION 14.
SECTION 14.
SEVERABILITY.--If any part or application of .233856.3 - 26 - HTRC/HB 248 the 2026 Capital Projects General Obligation Bond Act is held invalid, the remainder or its application to other situations or persons shall not be affected.
SEVERABILITY.--If any part or application of the 2026 Capital Projects General Obligation Bond Act is held invalid, the remainder or its application to other situations or persons shall not be affected.
- 27 - 8 10 12 14 16 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 [ .233856.3
HTRC/HB 248/ec Page 27 25
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Action History

  1. Signed

  2. passed Senate

  3. DO PASS committee report adopted

  4. Sent to Senate Finance Committee

  5. passed House

  6. DO NOT PASS, replaced with committee substitute

  7. Sent to House Taxation & Revenue Committee

Sponsors

Sponsorship breakdown

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1 sponsors · 0 co-sponsors · 111 not signed on

Sponsors (1)

Co-sponsors (0)

None.

Not signed on (111)

111 members have not signed on to this bill.

Show all 111 →

"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

senate passage

Passed 38 Yea · 0 Nay · 4 Other
Party YeaNayPresentNot Voting
Democrat 22003
Republican 15001
Unaffiliated 1000
Total 38004
% of votes cast 90%0%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 Not Voting
Cindy Nava Democrat Yea
Elizabeth "Liz" Stefanics Democrat Yea
George K. Muñoz Democrat Yea
Harold Pope Democrat Yea
Heather Berghmans Democrat Yea
Jeff Steinborn Democrat Yea
Joseph Cervantes Democrat Yea
Katy Duhigg Democrat Not Voting
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 Not Voting
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 Yea
Craig W. Brandt Republican Yea
Crystal Brantley Republican Yea
David M. Gallegos Republican Yea
Gabriel Ramos Republican Yea
James G. Townsend Republican Yea
Jay C. Block Republican Yea
Joshua A. Sanchez Republican Yea
Larry R. Scott Republican Yea
Nicole Tobiassen Republican Yea
Pat Boone Republican Yea
Pat Woods Republican Not Voting
Rex Wilson Republican Yea
Steve D. Lanier Republican Yea
William E. Sharer Republican Yea

Official roll call →

house passage

Passed 65 Yea · 0 Nay · 5 Other
Party YeaNayPresentNot Voting
Democrat 39004
Republican 24001
Unaffiliated 2000
Total 65005
% of votes cast 93%0%0%7%
How each member voted (70)
Member Party Vote
Hernandez, JF — Yea
Hernandez, JN — Yea
Andrea Romero Democrat Yea
Angelica Rubio Democrat Yea
Anita Gonzales Democrat Yea
Art De La Cruz Democrat Yea
Charlotte Little Democrat Yea
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 Yea
Derrick J. Lente Democrat Yea
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 Yea
Joy Garratt Democrat Yea
Kathleen Cates Democrat Yea
Kristina Ortez Democrat Yea
Linda Serrato Democrat Yea
Marian Matthews Democrat Not Voting
Marianna Anaya Democrat Yea
Martha Garcia Democrat Yea
Matthew McQueen Democrat Yea
Meredith A. Dixon Democrat Yea
Micaela Lara Cadena Democrat Yea
Michelle Paulene Abeyta Democrat Yea
Miguel P. García Democrat Not Voting
Nathan P. Small Democrat Yea
Pamelya Herndon Democrat Yea
Patricia A. Lundstrom Democrat Yea
Patricia Roybal Caballero Democrat Yea
Raymundo Lara Democrat Not Voting
Reena Szczepanski Democrat Yea
Sarah Silva Democrat Yea
Susan K. Herrera Democrat Not Voting
Tara L. Lujan Democrat Yea
Yanira Gurrola Democrat Yea
Alan T. Martinez Republican Yea
Andrea Reeb Republican Yea
Angelita Mejia Republican Yea
Brian G. Baca Republican Yea
Catherine J. Cullen Republican Yea
Cathrynn N. Brown Republican Yea
Elaine Sena Cortez Republican Yea
Gail Armstrong Republican Yea
Harlan Vincent Republican Yea
Jack Chatfield Republican Yea
Jenifer Jones Republican Yea
Jimmy G. Mason Republican Yea
John Block Republican Yea
Jonathan A. Henry Republican Yea
Luis M. Terrazas Republican Yea
Mark B. Murphy Republican Yea
Mark Duncan Republican Yea
Martin R. Zamora Republican Yea
Nicole Chavez Republican Yea
Randall T. Pettigrew Republican Yea
Rebecca Dow Republican Yea
Rod Montoya Republican Yea
Stefani Lord Republican Not Voting
Tanya Mirabal Moya Republican Yea
William A. Hall II Republican Yea

Official roll call →

Subjects

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Frequently asked questions

Who sponsors HB 248?
HB 248 is sponsored by Derrick J. Lente (Democrat).
What is the current status of HB 248?
This bill has been enacted into law. Introduced January 30, 2026. Enacted.
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