New Mexico legislation · 2026 Regular Session
New Mexico HB247: CAPITAL OUTLAY CHANGES
Status: Signed into law, March 9, 2026
What the bill says
An act relating to capital expenditures; providing limitations and requirements for certain capital outlay projects, reauthorizations and appropriations; amending sections of laws 2022 through 2025 to require certain unexpended general fund capital outlay appropriations to revert to the capital development and reserve fund or the tribal infrastructure project fund.
From the enrolled text, March 10, 2026:
AN ACT RELATING TO CAPITAL EXPENDITURES; PROVIDING LIMITATIONS AND REQUIREMENTS FOR CERTAIN CAPITAL OUTLAY PROJECTS, REAUTHORIZATIONS AND APPROPRIATIONS; AMENDING SECTIONS OF LAWS 2022 THROUGH 2025 TO REQUIRE CERTAIN UNEXPENDED GENERAL FUND CAPITAL OUTLAY APPROPRIATIONS TO REVERT TO THE CAPITAL DEVELOPMENT AND RESERVE FUND OR THE TRIBAL INFRASTRUCTURE PROJECT FUND. BE IT ENACTED BY THE LEGISLATURE OF THE STATE OF NEW MEXICO: SECTION 1. CAPITAL OUTLAY PROJECTS--REAUTHORIZATIONS AND APPROPRIATIONS--LIMITATIONS.-- A. A capital outlay project shall not be reauthorized or (2) for a time period greater than two years; and (3) unless at least ten percent of the initial appropriation has been encumbered by January 1 of that year, as determined by the department of finance and administration. B. A capital outlay project may be reauthorized or reappropriated to make a technical change, but a reauthorization or reappropriation shall not alter the original purpose of the capital outlay project. A capital HB 247/a Page outlay project that is reauthorized or reappropriated to make a technical change is not subject to the encumbrance requirement provided in Paragraph (3) of Subsection A of this section. C. Capital outlay authorizations and appropriations of one hundred thousand dollars ($100,000) or more shall not be made for a project unless the project is included on an infrastructure capital improvement plan. D. Capital outlay appropriations made from the …
Sponsors
- Derrick J. Lente (D, HD-065) · primary sponsor
Latest actions
- : Signed by Governor - Chapter 59 - Mar. 9
- : House has concurred with Senate Amendments
- : Passed in the Senate - Y:40 N:0
- : SFC: Reported by committee with Do Pass recommendation with amendment(s)
- : Sent to SFC - Referrals: SFC
- : Passed in the House of Representatives - Y:48 N:20
- : HTRC: Reported by committee with Do Pass recommendation with amendment(s)
- : Sent to HTRC - Referrals: HTRC
Votes
- Senate Floor Vote (February 18, 2026): 40 yea, 0 nay, passed
- House Floor Vote (February 9, 2026): 48 yea, 20 nay, passed
Subjects: FINANCE, PUBLIC
Common questions
- What is HB247?
- HB247 is a bill in the New Mexico Legislature (2026 Regular Session): CAPITAL OUTLAY CHANGES.
- What does HB247 do?
- In its own words: An act relating to capital expenditures; providing limitations and requirements for certain capital outlay projects, reauthorizations and appropriations; amending sections of laws 2022 through 2025 to require certain unexpended general fund capital outlay appropriations to revert to the capital development and reserve fund or the tribal infrastructure project fund.
- What is the status of HB247?
- Signed into law as of March 9, 2026. Latest action: Signed by Governor - Chapter 59 - Mar. 9 (March 9, 2026).
- Who sponsored HB247?
- Derrick J. Lente (D, HD-065).
- Where is the official record for HB247?
- On the New Mexico Legislature website: https://www.nmlegis.gov/Legislation/Legislation?chamber=H&legType=B&legNo=247&year=26
Source: official New Mexico record. Tracked by Delilah, AI for legislation across all 50 states and Congress.