New Mexico SB120: LOCAL JOURNALIST EMPLOYMENT TAX CREDIT

What the bill says

An act relating to taxation; creating the local journalist employment income tax credit and local journalist employment corporate income tax credit.

From the introduced text, January 23, 2026:

AN ACT RELATING TO TAXATION; CREATING THE LOCAL JOURNALIST EMPLOYMENT INCOME TAX CREDIT AND LOCAL JOURNALIST EMPLOYMENT CORPORATE INCOME TAX CREDIT. BE IT ENACTED BY THE LEGISLATURE OF THE STATE OF NEW MEXICO: SECTION 1. A new section of the Income Tax Act is enacted to read: "[NEW MATERIAL] LOCAL JOURNALIST EMPLOYMENT INCOME TAX CREDIT.-- A. For taxable years prior to January 1, 2031, a taxpayer who is not a dependent of another individual and is an owner of a local news organization that employs a journalist may claim a credit against the taxpayer's tax liability imposed pursuant to the Income Tax Act in an amount provided in Subsection B of this section. The tax credit provided by this .232948.1 wen = lairetam derocsrednu eteled = ]lairetam detekcarb[ section may be referred to as the "local journalist employment income tax credit". B. The amount of tax credit shall be in an amount equal to thirty percent of wages paid to each journalist employed by a local news organization. C. A taxpayer shall apply for certification of eligibility for the tax credit from the department on forms and in the manner prescribed by the department. A taxpayer shall not be eligible to receive a tax credit for more than seventyfive journalists whom the taxpayer employs as a local news organization and, …

Read the full official text

Sponsors

• Carrie Hamblen (D, SD-038) · primary sponsor
• Peter Wirth (D, SD-025)

Latest actions

1. January 26, 2026: SCC: Reported by committee to fall within the purview of a 30 day session
2. January 23, 2026: Sent to SCC - Referrals: SCC/STBTC/SFC
3. : Action Postponed Indefinitely

Common questions

What is SB120?

SB120 is a bill in the New Mexico Legislature (2026 Regular Session): LOCAL JOURNALIST EMPLOYMENT TAX CREDIT.

What does SB120 do?

In its own words: An act relating to taxation; creating the local journalist employment income tax credit and local journalist employment corporate income tax credit.

What is the status of SB120?

In committee as of January 26, 2026. Latest action: SCC: Reported by committee to fall within the purview of a 30 day session (January 26, 2026).

Who sponsored SB120?

Carrie Hamblen (D, SD-038), with 1 co-sponsor.

Where is the official record for SB120?

On the New Mexico Legislature website: https://www.nmlegis.gov/Legislation/Legislation?chamber=S&legType=B&legNo=120&year=26