Updates as the Leg Session winds down

The 2026 NM Legislative Session winds down the morning of Thursday, February 19th. As of Wednesday night not everything THP has been tracking has already been decided.. we will see what bills are voted on and which languish tomorrow morning.

SB 92, one of the bills we were watching, was initially a Gross Receipts Tax (GRT) exemption for construction and materials used for affordable housing rental projects across the State. It has now been rolled into SB 151, which is a broader tax reform and tax credit bill, and reduced to only a GRT exemption for construction materials. It would still be tangibly impactful on the cost to construct new affordable rental housing! This bill passed in the Senate and in a House Committee on Wednesday, February 18… we will see what happens on the 19th!

The other bill we were watching closely, HB 200, passed out of the house. Check out an interesting discussion of the Bill here… there was concern that it would only help homeowners in Taos, Santa Fe and Los Alamos Counties due to the higher subsidies earmarked for those communities. The Bill passed a Senate Committee on the 18th, but it is unclear at this time what will happen to it before the session ends at noon on Thursday.

We will update our website with more information as we get it!