New Mexico legislation · 2026 Regular Session
New Mexico SB260: WORKFORCE EDUCATION TAX CREDIT
Status: In committee, February 5, 2026
What the bill says
An act relating to taxation; creating the workforce education corporate income tax credit.
From the introduced text, February 4, 2026:
AN ACT RELATING TO TAXATION; CREATING THE WORKFORCE EDUCATION CORPORATE INCOME TAX CREDIT. BE IT ENACTED BY THE LEGISLATURE OF THE STATE OF NEW MEXICO: SECTION 1. A new section of the Corporate Income and Franchise Tax Act is enacted to read: "[NEW MATERIAL] WORKFORCE EDUCATION CORPORATE INCOME TAX CREDIT.-- A. For taxable years prior to January 1, 2029, a taxpayer that makes a donation to a public post-secondary educational institution or school district to fund a workforce education program may claim a tax credit against the taxpayer's tax liability imposed pursuant to the Corporate Income and Franchise Tax Act. The tax credit authorized pursuant to this section may be referred to as the "workforce education .233603.1 wen = lairetam derocsrednu eteled = ]lairetam detekcarb[ corporate income tax credit". B. The amount of the tax credit shall be in an amount equal to seventy-five percent of the amount donated in a taxable year, not to exceed seven hundred fifty thousand dollars ($750,000) per taxpayer. C. A taxpayer shall apply for certification of eligibility for the tax credit from the economic development department on forms and in the manner prescribed by that department. The total annual aggregate amount of tax credits that may be certified in a calendar year shall not exceed five million dollars ($5,000,000). Completed applications shall be considered …
Sponsors
- George K. Muñoz (D, SD-004) · primary sponsor
- Benny Shendo, Jr. (D, SD-022)
Latest actions
- : SCC: Reported by committee to fall within the purview of a 30 day session
- : Sent to SCC - Referrals: SCC/STBTC/SFC
- : Action Postponed Indefinitely
Subjects: TAXATION, INCOME, EMPLOYER & EMPLOYEE (including workers' comp)
Common questions
- What is SB260?
- SB260 is a bill in the New Mexico Legislature (2026 Regular Session): WORKFORCE EDUCATION TAX CREDIT.
- What does SB260 do?
- In its own words: An act relating to taxation; creating the workforce education corporate income tax credit.
- What is the status of SB260?
- In committee as of February 5, 2026. Latest action: SCC: Reported by committee to fall within the purview of a 30 day session (February 5, 2026).
- Who sponsored SB260?
- George K. Muñoz (D, SD-004), with 1 co-sponsor.
- Where is the official record for SB260?
- On the New Mexico Legislature website: https://www.nmlegis.gov/Legislation/Legislation?chamber=S&legType=B&legNo=260&year=26
Source: official New Mexico record. Tracked by Delilah, AI for legislation across all 50 states and Congress.