New Mexico legislation · 2026 Regular Session
New Mexico HB93: STANDARD INCOME TAX DEDUCTION INCREASE
Status: Introduced, February 13, 2026
What the bill says
An act relating to taxation; increasing the standard deduction for income tax purposes to two hundred five percent of the standard deduction allowed by the federal government.
From the introduced text, January 16, 2026:
AN ACT RELATING TO TAXATION; INCREASING THE STANDARD DEDUCTION FOR INCOME TAX PURPOSES TO TWO HUNDRED FIVE PERCENT OF THE STANDARD DEDUCTION ALLOWED BY THE FEDERAL GOVERNMENT. BE IT ENACTED BY THE LEGISLATURE OF THE STATE OF NEW MEXICO: SECTION 1. Section 7-2-2 NMSA 1978 (being Laws 1986, Chapter 20, Section 26, as amended by Laws 2023, Chapter 17, Section 1 and by Laws 2023, Chapter 159, Section 1) is amended to read: "7-2-2. DEFINITIONS.--For the purpose of the Income Tax Act and unless the context requires otherwise: A. "adjusted gross income" means adjusted gross income as defined in Section 62 of the Internal Revenue Code, as that section may be amended or renumbered; B. "base income": .232933.1 wen = lairetam derocsrednu eteled = ]lairetam detekcarb[ (1) means, for estates and trusts, that part of the estate's or trust's income defined as taxable income and upon which the federal income tax is calculated in the Internal Revenue Code for income tax purposes plus: (a) for taxable years beginning on or after January 1, 1991, the amount of the net operating loss deduction allowed by Section 172(a) of the Internal Revenue Code, as that section may be amended or renumbered, and taken by the taxpayer for that year; and (b) for taxable years beginning on or after January 1, 2023, an …
Sponsors
- Elaine Sena Cortez (R, HD-062) · primary sponsor
- Rebecca Dow (R, HD-038)
Latest actions
- : HGEIC: Reported by committee with Do Pass recommendation
- : Sent to HGEIC - Referrals: HGEIC/HTRC
- : Action Postponed Indefinitely
- : Sent to HPREF - Referrals: HPREF
Subjects: TAXATION, INCOME
Common questions
- What is HB93?
- HB93 is a bill in the New Mexico Legislature (2026 Regular Session): STANDARD INCOME TAX DEDUCTION INCREASE.
- What does HB93 do?
- In its own words: An act relating to taxation; increasing the standard deduction for income tax purposes to two hundred five percent of the standard deduction allowed by the federal government.
- What is the status of HB93?
- Introduced as of February 13, 2026. Latest action: HGEIC: Reported by committee with Do Pass recommendation (February 13, 2026).
- Who sponsored HB93?
- Elaine Sena Cortez (R, HD-062), with 1 co-sponsor.
- Where is the official record for HB93?
- On the New Mexico Legislature website: https://www.nmlegis.gov/Legislation/Legislation?chamber=H&legType=B&legNo=93&year=26
Source: official New Mexico record. Tracked by Delilah, AI for legislation across all 50 states and Congress.