New Mexico legislation · 2026 Regular Session
New Mexico HB248: GENERAL OBLIGATION BONDS
Status: Signed into law, March 10, 2026
What the bill says
An act relating to general obligation bonds; authorizing the issuance and sale of capital projects general obligation bonds to make capital expenditures for statewide senior centers, libraries and higher education; providing for a property tax levy for payment of principal of, interest on and costs related to the bonds; requiring approval of the registered voters at the 2026 general election of the state; declaring an emergency.
From the enrolled text, March 10, 2026:
AN ACT RELATING TO GENERAL OBLIGATION BONDS; AUTHORIZING THE ISSUANCE AND SALE OF CAPITAL PROJECTS GENERAL OBLIGATION BONDS TO MAKE CAPITAL EXPENDITURES FOR STATEWIDE SENIOR CENTERS, LIBRARIES AND HIGHER EDUCATION; PROVIDING FOR A PROPERTY TAX LEVY FOR PAYMENT OF PRINCIPAL OF, INTEREST ON AND COSTS RELATED TO THE BONDS; REQUIRING APPROVAL OF THE REGISTERED VOTERS AT THE 2026 GENERAL ELECTION OF THE STATE; DECLARING AN EMERGENCY. BE IT ENACTED BY THE LEGISLATURE OF THE STATE OF NEW MEXICO: SECTION 1. SHORT TITLE.--This act may be cited as the "2026 Capital Projects General Obligation Bond Act". SECTION 2. PURPOSE.--For the purpose of providing funds for capital expenditures as authorized in the 2026 Capital Projects General Obligation Bond Act, general obligation indebtedness of the state is authorized for the purposes and in the amounts set forth in Section 10 of that act. SECTION 3. BOND TERMS.-- A. The state board of finance, except as limited by the 2026 Capital Projects General Obligation Bond Act, shall determine the terms, covenants and conditions of bonds issued pursuant to that act, including: (1) date or dates of issue, denominations and maturities; HTRC/HB 248/ec Page (2) principal amounts; (3) rate or rates of interest; and (4) provisions for redemption, including premiums, registration and refundability, whether the bonds are issued in one or more series and other …
Sponsors
- Derrick J. Lente (D, HD-065) · primary sponsor
Latest actions
- : Signed by Governor - Chapter 65 - Mar. 10
- : Passed in the Senate - Y:38 N:0
- : SFC: Reported by committee with Do Pass recommendation
- : Sent to SFC - Referrals: SFC
- : Passed in the House of Representatives - Y:65 N:0
- : HTRC: Reported by committee with Do Not Pass but with a Do Pass recommendation on Committee Substitution
- : Sent to HTRC - Referrals: HTRC
Votes
- Senate Floor Vote (February 18, 2026): 38 yea, 0 nay, passed
- House Floor Vote (February 15, 2026): 65 yea, 0 nay, passed
Subjects: LOCAL GOVERNMENT, FINANCE, PUBLIC
Common questions
- What is HB248?
- HB248 is a bill in the New Mexico Legislature (2026 Regular Session): GENERAL OBLIGATION BONDS.
- What does HB248 do?
- In its own words: An act relating to general obligation bonds; authorizing the issuance and sale of capital projects general obligation bonds to make capital expenditures for statewide senior centers, libraries and higher education; providing for a property tax levy for payment of principal of, interest on and costs related to the bonds; requiring approval of the registered voters at the 2026 general election of the state; declaring an emergency.
- What is the status of HB248?
- Signed into law as of March 10, 2026. Latest action: Signed by Governor - Chapter 65 - Mar. 10 (March 10, 2026).
- Who sponsored HB248?
- Derrick J. Lente (D, HD-065).
- Where is the official record for HB248?
- On the New Mexico Legislature website: https://www.nmlegis.gov/Legislation/Legislation?chamber=H&legType=B&legNo=248&year=26
Source: official New Mexico record. Tracked by Delilah, AI for legislation across all 50 states and Congress.