New Mexico legislation · 2026 Regular Session
New Mexico HB160: CREATE ALL CITIES & COUNTIES FUND
Status: Introduced, February 2, 2026
What the bill says
An act relating to taxation; creating the all cities and counties fund to transfer a portion of gross receipts tax revenue to municipalities and counties; distributing a portion of gross receipts tax revenue to the all cities and counties fund.
From the introduced text, January 26, 2026:
AN ACT RELATING TO TAXATION; CREATING THE ALL CITIES AND COUNTIES FUND TO TRANSFER A PORTION OF GROSS RECEIPTS TAX REVENUE TO MUNICIPALITIES AND COUNTIES; DISTRIBUTING A PORTION OF GROSS RECEIPTS TAX REVENUE TO THE ALL CITIES AND COUNTIES FUND. BE IT ENACTED BY THE LEGISLATURE OF THE STATE OF NEW MEXICO: SECTION 1. [NEW MATERIAL] ALL CITIES AND COUNTIES FUND-- CREATED.-- A. The "all cities and counties fund" is created in the state treasury. B. The taxation and revenue department shall calculate an amount to be transferred to each municipality in an amount equal to the result of the following formula, where "municipality" is the municipality receiving the transfer and "county" is the county in which the municipality is located; .232973.1 wen = lairetam derocsrednu eteled = ]lairetam detekcarb[ provided that if a municipality is located in more than one county, a transfer shall be calculated for each county in which the municipality is located: municipality population * (0.7 * (fund balance/state population) + 0.3 * (((county EGRTR/all county EGRTR) * fund balance)/county population)). C. The taxation and revenue department shall calculate an amount to be transferred to each county in an amount equal to the result of the following formula: county area population * (0.7 * (fund balance/state population) + 0.3 * (((county EGRTR/all county EGRTR) * fund …
Sponsors
- Elaine Sena Cortez (R, HD-062) · primary sponsor
- Javier Martínez (D, HD-011)
- Gail Armstrong (R, HD-049)
- Jonathan A. Henry (R, HD-054)
Latest actions
- : HGEIC: Reported by committee with Do Pass recommendation
- : Sent to HGEIC - Referrals: HGEIC/HTRC
- : Action Postponed Indefinitely
Subjects: LOCAL GOVERNMENT, FINANCE, PUBLIC
Common questions
- What is HB160?
- HB160 is a bill in the New Mexico Legislature (2026 Regular Session): CREATE ALL CITIES & COUNTIES FUND.
- What does HB160 do?
- In its own words: An act relating to taxation; creating the all cities and counties fund to transfer a portion of gross receipts tax revenue to municipalities and counties; distributing a portion of gross receipts tax revenue to the all cities and counties fund.
- What is the status of HB160?
- Introduced as of February 2, 2026. Latest action: HGEIC: Reported by committee with Do Pass recommendation (February 2, 2026).
- Who sponsored HB160?
- Elaine Sena Cortez (R, HD-062), with 3 co-sponsors.
- Where is the official record for HB160?
- On the New Mexico Legislature website: https://www.nmlegis.gov/Legislation/Legislation?chamber=H&legType=B&legNo=160&year=26
Source: official New Mexico record. Tracked by Delilah, AI for legislation across all 50 states and Congress.