New Mexico legislation · 2026 Regular Session
New Mexico HB121: STATE INVESTMENT OFFICER AND FUND CHANGES
Status: Failed, January 22, 2026
What the bill says
An act relating to public finance; standardizing language in funds managed by the state investment officer; amending definitions in chapter 6, article 8 nmsa 1978; removing the state investment officer as the investment manager in certain funds; removing the tobacco settlement permanent fund and the statesupport reserve fund from calculations made in certain funds…
From the introduced text, January 22, 2026:
AN ACT RELATING TO PUBLIC FINANCE; STANDARDIZING LANGUAGE IN FUNDS MANAGED BY THE STATE INVESTMENT OFFICER; AMENDING DEFINITIONS IN CHAPTER 6, ARTICLE 8 NMSA 1978; REMOVING THE STATE INVESTMENT OFFICER AS THE INVESTMENT MANAGER IN CERTAIN FUNDS; REMOVING THE TOBACCO SETTLEMENT PERMANENT FUND AND THE STATESUPPORT RESERVE FUND FROM CALCULATIONS MADE IN CERTAIN FUNDS; MOVING THE CAPITAL DEVELOPMENT PROGRAM FUND TO THE STATE TREASURY, EXPANDING WHAT CAN BE FUNDED TO CERTAIN PHASES OF A CAPITAL PROJECT, LOWERING THE CAP ON PLANNING AND DESIGN AND REDUCING THE AMOUNT OF TIME THAT MONEY IN THE FUND WILL REVERT BY ONE YEAR; REDUCING THE AMOUNT OF TIME THAT UNRESERVED AND UNDESIGNATED FUNDS OF STATE AGENCIES WILL REVERT BY ONE MONTH; CLARIFYING THE USE OF UNAPPROPRIATED MONEY IN CERTAIN FUNDS; REPEALING AN OUTDATED SECTION OF CHAPTER 6, ARTICLE 8 NMSA 1978. .232453.2 wen = lairetam derocsrednu eteled = ]lairetam detekcarb[ BE IT ENACTED BY THE LEGISLATURE OF THE STATE OF NEW MEXICO: SECTION 1. Section 6-4-9 NMSA 1978 (being Laws 1999, Chapter 207, Section 1, as amended) is amended to read: "6-4-9. TOBACCO SETTLEMENT PERMANENT FUND--INVESTMENT-- DISTRIBUTION.-- A. The "tobacco settlement permanent fund" is created as a nonreverting fund in the state treasury. The fund is not a reserve fund of the state. The fund shall consist of money distributed to the state pursuant …
Sponsors
- Sarah Silva (D, HD-053) · primary sponsor
Latest actions
- : Not Printed
- : Action Postponed Indefinitely
Subjects: FINANCE, PUBLIC
Common questions
- What is HB121?
- HB121 is a bill in the New Mexico Legislature (2026 Regular Session): STATE INVESTMENT OFFICER AND FUND CHANGES.
- What does HB121 do?
- In its own words: An act relating to public finance; standardizing language in funds managed by the state investment officer; amending definitions in chapter 6, article 8 nmsa 1978; removing the state investment officer as the investment manager in certain funds; removing the tobacco settlement permanent fund and the statesupport reserve fund from calculations made in certain funds…
- What is the status of HB121?
- Failed as of January 22, 2026. Latest action: Not Printed (January 22, 2026).
- Who sponsored HB121?
- Sarah Silva (D, HD-053).
- Where is the official record for HB121?
- On the New Mexico Legislature website: https://www.nmlegis.gov/Legislation/Legislation?chamber=H&legType=B&legNo=121&year=26
Source: official New Mexico record. Tracked by Delilah, AI for legislation across all 50 states and Congress.