New Mexico legislation · 2026 Regular Session
New Mexico HB80: OIL & GAS CONSERVATION TAX ACT CHANGES
Status: Signed into law, March 9, 2026
What the bill says
An act relating to the oil and gas reclamation fund; increasing the amount of the tax imposed pursuant to the oil and gas conservation tax act distributed to the fund; amending how money in the fund can be used; making an appropriation.
From the enrolled text, March 10, 2026:
AN ACT RELATING TO THE OIL AND GAS RECLAMATION FUND; INCREASING THE AMOUNT OF THE TAX IMPOSED PURSUANT TO THE OIL AND GAS CONSERVATION TAX ACT DISTRIBUTED TO THE FUND; AMENDING HOW MONEY IN THE FUND CAN BE USED; MAKING AN APPROPRIATION. BE IT ENACTED BY THE LEGISLATURE OF THE STATE OF NEW MEXICO: SECTION 1. Section 7-1-6.21 NMSA 1978 (being Laws 1985, Chapter 65, Section 7, as amended) is amended to read: "7-1-6.21. DISTRIBUTION TO OIL AND GAS RECLAMATION FUND.--A distribution pursuant to Section 7-1-6.20 NMSA 1978 shall be made to the oil and gas reclamation fund in an amount equal to the following percentages of the net receipts attributable to the tax imposed under the Oil and Gas Conservation Tax Act: A. beginning July 1, 2027 and prior to July 1, 2028, fifty percent; B. beginning July 1, 2028 and prior to July 1, 2029, seventy-five percent; C. beginning July 1, 2029 and prior to July 1, 2037, one hundred percent; and D. beginning July 1, 2037, fifty percent." SECTION 2. Section 70-2-37 NMSA 1978 (being Laws 1977, Chapter 237, Section 4, as amended) is amended to read: "70-2-37. OIL AND GAS RECLAMATION FUND CREATED-- HENRC/HB Page DISPOSITION OF FUND.--The "oil and gas reclamation fund" is created as a nonreverting fund in the state treasury. In addition to …
Sponsors
- Mark B. Murphy (R, HD-059) · primary sponsor
- Debra M. Sariñana (D, HD-021)
- Elaine Sena Cortez (R, HD-062)
- Meredith A. Dixon (D, HD-020)
- Jonathan A. Henry (R, HD-054)
- Mark Duncan (R, HD-002)
- Jimmy G. Mason (R, HD-066)
- Joseph Sanchez (D, HD-040)
Latest actions
- : Signed by Governor - Chapter 60 - Mar. 9
- : Passed in the Senate - Y:38 N:0
- : SFC: Reported by committee with Do Pass recommendation
- : Sent to SFC - Referrals: SFC
- : Passed in the House of Representatives - Y:63 N:0
- : HAFC: Reported by committee with Do Pass recommendation
- : HENRC: Reported by committee with Do Not Pass but with a Do Pass recommendation on Committee Substitution
- : Sent to HENRC - Referrals: HENRC/HAFC
- : Sent to HPREF - Referrals: HPREF
Votes
- Senate Floor Vote (February 18, 2026): 38 yea, 0 nay, passed
- House Floor Vote (February 15, 2026): 63 yea, 0 nay, passed
Subjects: TAXATION, OTHER (gas, cigarettes, etc.), ENERGY & NATURAL RESOURCES
Common questions
- What is HB80?
- HB80 is a bill in the New Mexico Legislature (2026 Regular Session): OIL & GAS CONSERVATION TAX ACT CHANGES.
- What does HB80 do?
- In its own words: An act relating to the oil and gas reclamation fund; increasing the amount of the tax imposed pursuant to the oil and gas conservation tax act distributed to the fund; amending how money in the fund can be used; making an appropriation.
- What is the status of HB80?
- Signed into law as of March 9, 2026. Latest action: Signed by Governor - Chapter 60 - Mar. 9 (March 9, 2026).
- Who sponsored HB80?
- Mark B. Murphy (R, HD-059), with 7 co-sponsors.
- Where is the official record for HB80?
- On the New Mexico Legislature website: https://www.nmlegis.gov/Legislation/Legislation?chamber=H&legType=B&legNo=80&year=26
Source: official New Mexico record. Tracked by Delilah, AI for legislation across all 50 states and Congress.