New Mexico legislation · 2026 Regular Session
New Mexico HB165: PAYMENT OF CERTAIN IRB SPECIAL ASSESSMENTS
Status: Signed into law, March 3, 2026
What the bill says
An act relating to local government; clarifying that special assessments under the improvement special assessment act shall be paid by property owners or lessees who hold industrial revenue bond leases.
From the enrolled text, March 4, 2026:
AN ACT RELATING TO LOCAL GOVERNMENT; CLARIFYING THAT SPECIAL ASSESSMENTS UNDER THE IMPROVEMENT SPECIAL ASSESSMENT ACT SHALL BE PAID BY PROPERTY OWNERS OR LESSEES WHO HOLD INDUSTRIAL REVENUE BOND LEASES. BE IT ENACTED BY THE LEGISLATURE OF THE STATE OF NEW MEXICO: SECTION 1. Section 4-55D-2 NMSA 1978 (being Laws 2023, Chapter 150, Section 2) is amended to read: "4-55D-2. DEFINITIONS.--As used in the Improvement Special Assessment Act: A. "capital provider" means a private entity or its designee, successor or assigns that finances or refinances an eligible improvement pursuant to the Improvement Special Assessment Act; B. "county" means a county, including an H class county; C. "county ordinance" means an ordinance adopted by a county pursuant to the Improvement Special Assessment Act to establish a program within a designated region; D. "department" means the economic development department; E. "eligible improvement" means a permanently affixed energy efficiency improvement, renewable energy improvement, water conservation improvement or resiliency HB Page improvement installed on eligible property as part of the construction or renovation of the property; F. "eligible property" means: (1) any privately owned commercial, industrial, agricultural or multifamily residential real property with five or more dwelling units, including real property owned by an entity formally recognized as tax exempt pursuant to Internal Revenue Code of 1986, as amended; or (2) property interests of …
Sponsors
- Linda Serrato (D, HD-045) · primary sponsor
- Meredith A. Dixon (D, HD-020)
- D. Wonda Johnson (D, HD-005)
- Cynthia Borrego (D, HD-017)
Latest actions
- : Signed by Governor - Chapter 18 - Mar. 3
- : Passed in the Senate - Y:30 N:0
- : STBTC: Reported by committee with Do Pass recommendation
- : Sent to STBTC - Referrals: STBTC
- : Passed in the House of Representatives - Y:67 N:0
- : HJC: Reported by committee with Do Pass recommendation
- : HGEIC: Reported by committee with Do Pass recommendation
- : Sent to HGEIC - Referrals: HGEIC/HJC
- : Withdrawn from committee or daily calendar, ordered printed and referred to
- : Not Printed
Votes
- Senate Floor Vote (February 18, 2026): 30 yea, 10 nay, passed
- House Floor Vote (February 12, 2026): 67 yea, 0 nay, passed
Subjects: LOCAL GOVERNMENT
Common questions
- What is HB165?
- HB165 is a bill in the New Mexico Legislature (2026 Regular Session): PAYMENT OF CERTAIN IRB SPECIAL ASSESSMENTS.
- What does HB165 do?
- In its own words: An act relating to local government; clarifying that special assessments under the improvement special assessment act shall be paid by property owners or lessees who hold industrial revenue bond leases.
- What is the status of HB165?
- Signed into law as of March 3, 2026. Latest action: Signed by Governor - Chapter 18 - Mar. 3 (March 3, 2026).
- Who sponsored HB165?
- Linda Serrato (D, HD-045), with 3 co-sponsors.
- Where is the official record for HB165?
- On the New Mexico Legislature website: https://www.nmlegis.gov/Legislation/Legislation?chamber=H&legType=B&legNo=165&year=26
Source: official New Mexico record. Tracked by Delilah, AI for legislation across all 50 states and Congress.