New Mexico legislation · 2026 Regular Session
New Mexico HB332: CAPITAL OUTLAY REAUTHORIZATIONS
Status: Signed into law, March 11, 2026
What the bill says
An act relating to capital expenditures; reauthorizing or reappropriating balances, expanding or changing purposes, extending expenditure periods and changing agencies; establishing conditions for the reversion or transfer of unexpended balances of appropriations made by the legislature in prior years.
From the enrolled text, March 11, 2026:
AN ACT RELATING TO CAPITAL EXPENDITURES; REAUTHORIZING OR REAPPROPRIATING BALANCES, EXPANDING OR CHANGING PURPOSES, EXTENDING EXPENDITURE PERIODS AND CHANGING AGENCIES; ESTABLISHING CONDITIONS FOR THE REVERSION OR TRANSFER OF UNEXPENDED BALANCES OF APPROPRIATIONS MADE BY THE LEGISLATURE IN PRIOR YEARS. BE IT ENACTED BY THE LEGISLATURE OF THE STATE OF NEW MEXICO: SECTION 1. SEVERANCE TAX BONDS--REAUTHORIZATION AND REAPPROPRIATION OF PROCEEDS.--For a prior year severance tax bond appropriation for a capital outlay project as provided in this act, the legislature may reauthorize or reappropriate the unexpended balance of the severance tax bond proceeds, expand or change the project purpose, extend the expenditure period, change the recipient agency or establish conditions for the reversion or transfer of the unexpended balance due to: A. the inability of a project to use the proceeds of the severance tax bonds for the purpose originally authorized by law; B. the completion of a project without the use of the appropriated severance tax bond proceeds; C. unanticipated delays in the need for or expenditure of the severance tax bond proceeds for the HTRC/HB 332/a/woec Page purpose originally authorized by law; or D. required compliance with the federal Internal Revenue Code of 1986, as amended. SECTION 2. SEVERANCE TAX BONDS--REVERSION OF PROCEEDS.-- A. Except as otherwise provided in another section of this act: (1) the unexpended balance from …
Sponsors
- Derrick J. Lente (D, HD-065) · primary sponsor
Latest actions
- : Signed by Governor - Chapter 68 - Mar. 11
- : House has concurred with Senate Amendments
- : Passed in the Senate - Y:24 N:14
- : SFC: Reported by committee with Do Pass recommendation with amendment(s)
- : Sent to SFC - Referrals: SFC
- : Passed in the House of Representatives - Y:43 N:20
- : 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): 24 yea, 14 nay, passed
- House Floor Vote (February 16, 2026): 43 yea, 20 nay, passed
Subjects: STATE AGENCIES & DEPARTMENTS (including reorganization), FINANCE, PUBLIC
Common questions
- What is HB332?
- HB332 is a bill in the New Mexico Legislature (2026 Regular Session): CAPITAL OUTLAY REAUTHORIZATIONS.
- What does HB332 do?
- In its own words: An act relating to capital expenditures; reauthorizing or reappropriating balances, expanding or changing purposes, extending expenditure periods and changing agencies; establishing conditions for the reversion or transfer of unexpended balances of appropriations made by the legislature in prior years.
- What is the status of HB332?
- Signed into law as of March 11, 2026. Latest action: Signed by Governor - Chapter 68 - Mar. 11 (March 11, 2026).
- Who sponsored HB332?
- Derrick J. Lente (D, HD-065).
- Where is the official record for HB332?
- On the New Mexico Legislature website: https://www.nmlegis.gov/Legislation/Legislation?chamber=H&legType=B&legNo=332&year=26
Source: official New Mexico record. Tracked by Delilah, AI for legislation across all 50 states and Congress.