New Mexico HB218: Tax Changes

What the bill says

From the engrossed text:

FIFTY-SEVENTH LEGISLATURE HB 218/a FIRST REGULAR SESSION, 2025 March 14, 2025 Mr. President: Your FINANCE COMMITTEE, to whom has been referred HOUSE BILL 218, as amended has had it under consideration and reports same with recommendation that it DO PASS, amended as follows: 1. Strike all senate tax, business and transportation committee amendments. 2. On page 1, line 17, after the semicolon, insert "INCREASING THE AMOUNT AND EXTENDING THE TIME PERIOD THE SECRETARY OF TAXATION AND REVENUE MAY SET TAX REPORTING AND PAYMENT INTERVALS;". 3. On page 2, line 10, strike the first occurrence of "THE" and on lines 10 and 11, strike "CLARIFYING THE APPLICATION OF CERTAIN OIL PRODUCTION TAXES ON SKIM OIL;". 4. On page 8, line 18, strike the comma and insert in lieu thereof a colon and the paragraph designation "(1)" and on line 21, after the semicolon, insert: "or (2) upon request by the governing body forming the district to the secretary, and upon the secretary's approval, the most recent twelve-month period for which gross receipts tax revenue data is available from filed returns;". 5. On page 77, line 6, strike "six months" and insert in lieu thereof "one year". 6. On page 117, line 15, strike "remaining". 7. On page 327, line 16, after "period", insert a comma. 8. On page 353, line 2, …

Read the full official text

Sponsors

• Derrick J. Lente (D, HD-065) · primary sponsor

Votes

• Senate Final Passage (March 17, 2025): 30 yea, 4 nay, passed
• House Final Passage (February 15, 2025): 50 yea, 11 nay, passed

Common questions

What is HB218?

HB218 is a bill in the New Mexico Legislature (2025 Regular Session): Tax Changes.

What is the status of HB218?

Chaptered as of April 9, 2025.

Who sponsored HB218?

Derrick J. Lente (D, HD-065).

Where is the official record for HB218?

On the New Mexico Legislature website: https://www.nmlegis.gov/Legislation/Legislation?chamber=H&legtype=B&legno=218&year=25