New Mexico legislation · 2026 Regular Session
New Mexico HB291: TAX CHANGES
Status: Signed into law, March 4, 2026
What the bill says
An act relating to taxation; allowing attorney fees to be paid from revenue distributions; preventing the accrual of interest when an extension of time to file a return has been granted; amending rounding requirements; clarifying that a taxpayer who has entered into an installment agreement is not considered a delinquent taxpayer for purposes of license or permit renewal…
From the enrolled text, March 5, 2026:
AN ACT RELATING TO TAXATION; ALLOWING ATTORNEY FEES TO BE PAID FROM REVENUE DISTRIBUTIONS; PREVENTING THE ACCRUAL OF INTEREST WHEN AN EXTENSION OF TIME TO FILE A RETURN HAS BEEN GRANTED; AMENDING ROUNDING REQUIREMENTS; CLARIFYING THAT A TAXPAYER WHO HAS ENTERED INTO AN INSTALLMENT AGREEMENT IS NOT CONSIDERED A DELINQUENT TAXPAYER FOR PURPOSES OF LICENSE OR PERMIT RENEWAL; PROVIDING THAT A MINIMUM CIVIL PENALTY OF FIVE DOLLARS ($5.00) SHALL NOT APPLY FOR FAILURE TO PAY A TAX LEVIED PURSUANT TO THE WITHHOLDING TAX ACT, THE OIL AND GAS PROCEEDS AND PASS-THROUGH ENTITY WITHHOLDING TAX ACT OR THE WORKERS' COMPENSATION FEE; AMENDING THE FILM PRODUCTION TAX CREDIT ACT; AMENDING DEFINITIONS IN THE TECHNOLOGY JOBS AND RESEARCH AND DEVELOPMENT TAX CREDIT ACT; CLARIFYING THE TOBACCO PRODUCTS TAX ON CLOSED SYSTEM CARTRIDGES; ALLOWING EXCESS PROPERTY TAX AUCTION PROCEEDS TO BE APPLIED TO OUTSTANDING TAX DEBT; REQUIRING SPECIFIC EFFECTIVE DATES FOR AN ORDINANCE CHANGING THE IMPOSITION OF TAX IMPOSED BY AN INDIAN NATION, TRIBE OR PUEBLO AND COLLECTED BY THE TAXATION AND REVENUE DEPARTMENT PURSUANT TO A TRIBAL COOPERATIVE AGREEMENT; AMENDING WITH WHOM THE SECRETARY OF TAXATION AND REVENUE MAY ENTER INTO TRIBAL COOPERATIVE AGREEMENTS. SECTION 1. Section 7-1-6 NMSA 1978 (being Laws 1978, HB 291/a Page Chapter 55, Section 1, as amended) is amended to read: "7-1-6. RECEIPTS--DISBURSEMENTS--FUNDS CREATED.-- A. All money received …
Sponsors
- Derrick J. Lente (D, HD-065) · primary sponsor
- Sarah Silva (D, HD-053)
Latest actions
- : Signed by Governor - Chapter 31 - Mar. 4
- : Passed in the Senate - Y:36 N:2
- : STBTC: Reported by committee with Do Pass recommendation
- : Sent to STBTC - Referrals: STBTC
- : Passed in the House of Representatives - Y:59 N:8
- : HTRC: Reported by committee with Do Pass recommendation with amendment(s)
- : Sent to HTRC - Referrals: HTRC
Votes
- Senate Floor Vote (February 18, 2026): 36 yea, 2 nay, passed
- House Floor Vote (February 12, 2026): 59 yea, 8 nay, passed
Subjects: TAXATION, GROSS RECEIPTS & COMPENSATING, TAXATION, OTHER (gas, cigarettes, etc.), TAXATION, PROPERTY
Common questions
- What is HB291?
- HB291 is a bill in the New Mexico Legislature (2026 Regular Session): TAX CHANGES.
- What does HB291 do?
- In its own words: An act relating to taxation; allowing attorney fees to be paid from revenue distributions; preventing the accrual of interest when an extension of time to file a return has been granted; amending rounding requirements; clarifying that a taxpayer who has entered into an installment agreement is not considered a delinquent taxpayer for purposes of license or permit renewal…
- What is the status of HB291?
- Signed into law as of March 4, 2026. Latest action: Signed by Governor - Chapter 31 - Mar. 4 (March 4, 2026).
- Who sponsored HB291?
- Derrick J. Lente (D, HD-065), with 1 co-sponsor.
- Where is the official record for HB291?
- On the New Mexico Legislature website: https://www.nmlegis.gov/Legislation/Legislation?chamber=H&legType=B&legNo=291&year=26
Source: official New Mexico record. Tracked by Delilah, AI for legislation across all 50 states and Congress.