7 statewide measures on the ballot.

Proposing an amendment to Article 4, Section 22 of the Constitution of New Mexico to require the governor to provide veto messages on all bills vetoed in whole or in part and to provide that all bills passed by the legislature and not acted on by the governor will become law.

Under Section 1-16-4 NMSA 1978 and the New Mexico Constitution, the Secretary of State (SOS) is required to print samples of the text of each constitutional amendment in both Spanish and English in an amount equal to 10 percent of the registered voters in the state. SOS is required to publish the samples once a week for four weeks preceding the election in newspapers in every county in the state. Further, the number of constitutional amendments on the ballot may impact the ballot page size or cause the ballot to be more than one page, also increasing costs. The estimated cost per constitutional amendment is $35 thousand to $50 thousand, depending on the size and number of ballots and if additional ballot stations are needed. Should this proposed constitutional amendment be approved by voters, a cost that is indeterminate but minimal may impact the Office of the Governor if additional support is needed to review bills passed by the Legislature and prepare veto messages as applicable. Another cost burden mentioned by Office of the Governor could be costly legal challenges related to explanations given by the Governor. [Legislative Finance Committee fiscal impact report on House Joint Resolution 2/aHJC (original date 1/25/2025, last updated 3/4/2025); written for that version of the resolution.]

Proposing to amend Article 7, Section 1 of the Constitution of New Mexico to remove the requirement that school elections be separate from partisan elections.

Under Section 1-16-4 NMSA 1978 and the New Mexico Constitution, the Secretary of State (SOS) is required to print samples of the text of each constitutional amendment in both Spanish and English in an amount equal to 10 percent of the registered voters in the state. SOS is required to publish the samples once a week for four weeks preceding the election in newspapers in every county in the state. The number of constitutional amendments on the ballot may impact the ballot page size or cause the ballot to be more than one page, also increasing costs. The estimated cost per constitutional amendment is $35 thousand to $50 thousand, depending on the size and number of ballots and if additional ballot stations are needed. Should this proposed constitutional amendment be approved by voters, more districts could place bond or mill levy questions on partisan elections, which could increase local capital outlay revenue and provide matching funds to apply for state capital outlay dollars for school facilities. The timing of bond questions and mill levies affects school district planning for facility replacements and renovations. Allowing districts to place these questions on the ballot alongside partisan elections would likely result in cost savings for schools, as they must otherwise pay for the costs of special elections. [Legislative Finance Committee fiscal impact report on Senate Joint Resolution 1 (original date 1/24/26); written for that version of the resolution.]

Proposing an amendment to Article 12, Section 13 of the Constitution of New Mexico to establish nominating committees to provide lists of nominees to the governor for appointment of nonstudent members to the boards of regents of state educational institutions; providing that student members of boards of regents shall be appointed from a list provided by an elected student governing body of the institution; providing that, except for a student member, members of the boards of regents shall not have changed their political party registration in the twelve months preceding appointment.

Under Section 1-16-4 NMSA 1978 and the New Mexico Constitution, the Secretary of State (SOS) is required to print samples of the text of each constitutional amendment in both Spanish and English in an amount equal to 10 percent of the registered voters in the state. SOS is required to publish the samples once a week for four weeks preceding the election in newspapers in every county in the state. The number of constitutional amendments on the ballot may impact the ballot page size or cause the ballot to be more than one page, also increasing costs. The estimated cost per constitutional amendment is $35 thousand to $50 thousand, depending on the size and number of ballots and if additional ballot stations are needed. [Legislative Finance Committee fiscal impact report on House Joint Resolution 1/aHJC (original date 1/26/26); written for that version of the resolution.]

Proposing to amend Article 4, Section 10 of the Constitution of New Mexico to allow legislative compensation that is limited to the median household income for New Mexico, to require legislative compensation to be reduced if the median household income for New Mexico falls, to allow legislative compensation to be increased only if the median household income for New Mexico rises and to provide for delayed implementation.

If approved by voters, based on 112 legislators and a median household income of about $67.8 thousand, the cost to the general fund on an annual basis could be approximately $7.6 million. Under Section 1-16-4 NMSA 1978 and the New Mexico Constitution, the Secretary of State (SOS) is required to print samples of the text of each constitutional amendment in both Spanish and English in an amount equal to 10 percent of the registered voters in the state. SOS is required to publish samples once a week for four weeks preceding the election in newspapers in every county in the state. The number of constitutional amendments on the ballot may impact the ballot page size or cause the ballot to be more than one page, also increasing costs. The estimated cost per constitutional amendment is $35 thousand to $50 thousand, depending on the size and number of ballots and if additional ballot stations are needed. [Legislative Finance Committee fiscal impact report on House Joint Resolution 5/aHGEIC (original date 1/21/2026, last updated 2/16/2026); written for that version of the resolution.]

The 2026 Capital Projects General Obligation Bond Act authorizes the issuance and sale of senior citizen facility improvement, construction and equipment acquisition bonds. Shall the state be authorized to issue general obligation bonds in an amount not to exceed twenty-one million five hundred eighty-two thousand two hundred thirteen dollars ($21,582,213) to make capital expenditures for certain senior citizen facility improvement, construction and equipment acquisition projects and provide for a general property tax imposition and levy for the payment of principal of, interest on and expenses incurred in connection with the issuance of the bonds and the collection of the tax as permitted by law?

The total for all three questions, including bond issuance costs, is $393,131,780. The State Board of Finance will determine the final property tax rate and estimated annual cost to property owners after the 2026 General Election, based on voter approval, the timing of bond issuance, market interest rates, and statewide assessed property values. Those estimates will be published before the bonds are issued. [Voter guide, from the Department of Finance and Administration.] According to revenue estimators, general obligation bond (GOB) capacity is $392.5 million, or approximately 0.136 percent of the net taxable value of property. Authorizing no more than the stated capacity maintains a flat mill levy. The authorizations in the bill account for the cost of issuing bonds, with amounts verified by the State Board of Finance. Issuance and sale of general obligation bonds require approval by the electorate in the November 2026 general election. General obligation bonds are payable from ad valorem (property) taxes levied on all property in the state subject to property taxation. The bonds are backed by the full faith and credit of the state. If ratified by the voters, general obligation bonds are typically issued by the State Board of Finance in spring following the general election. The funds authorized in this bill will be available to the recipients after a bond sale in the spring of 2027. The state agencies and higher education institutions to which money has been appropriated in this bill shall be responsible for monitoring the projects funded in the bill to ensure compliance with the laws and Constitution of New Mexico and shall cause to be reverted any unexpended or unencumbered balance remaining at the earlier of the third full fiscal year after issuance of the bonds or the termination or completion of the specific project. Reverted funds shall be deposited in the debt service fund established by the state treasurer for the purpose of paying the principal and interest on the state’s general obligation bonds. [Legislative Finance Committee fiscal impact report on CS/House Bill 248/ec/HTRCS (original date 2/14/2026).]

The 2026 Capital Projects General Obligation Bond Act authorizes the issuance and sale of library acquisition bonds. Shall the state be authorized to issue general obligation bonds in an amount not to exceed nineteen million three hundred twenty-four thousand one hundred eighty-eight dollars ($19,324,188) to make capital expenditures for academic, public school, public and tribal library resource acquisitions and provide for a general property tax imposition and levy for the payment of principal of, interest on and expenses incurred in connection with the issuance of the bonds and the collection of the tax as permitted by law?

The total for all three questions, including bond issuance costs, is $393,131,780. The State Board of Finance will determine the final property tax rate and estimated annual cost to property owners after the 2026 General Election, based on voter approval, the timing of bond issuance, market interest rates, and statewide assessed property values. Those estimates will be published before the bonds are issued. [Voter guide, from the Department of Finance and Administration.] According to revenue estimators, general obligation bond (GOB) capacity is $392.5 million, or approximately 0.136 percent of the net taxable value of property. Authorizing no more than the stated capacity maintains a flat mill levy. The authorizations in the bill account for the cost of issuing bonds, with amounts verified by the State Board of Finance. Issuance and sale of general obligation bonds require approval by the electorate in the November 2026 general election. General obligation bonds are payable from ad valorem (property) taxes levied on all property in the state subject to property taxation. The bonds are backed by the full faith and credit of the state. If ratified by the voters, general obligation bonds are typically issued by the State Board of Finance in spring following the general election. The funds authorized in this bill will be available to the recipients after a bond sale in the spring of 2027. The state agencies and higher education institutions to which money has been appropriated in this bill shall be responsible for monitoring the projects funded in the bill to ensure compliance with the laws and Constitution of New Mexico and shall cause to be reverted any unexpended or unencumbered balance remaining at the earlier of the third full fiscal year after issuance of the bonds or the termination or completion of the specific project. Reverted funds shall be deposited in the debt service fund established by the state treasurer for the purpose of paying the principal and interest on the state’s general obligation bonds. [Legislative Finance Committee fiscal impact report on CS/House Bill 248/ec/HTRCS (original date 2/14/2026).]

The 2026 Capital Projects General Obligation Bond Act authorizes the issuance and sale of higher education, special schools and tribal schools capital improvement and acquisition bonds. Shall the state be authorized to issue general obligation bonds in an amount not to exceed three hundred fifty-two million two hundred twenty five thousand three hundred seventy-nine dollars ($352,225,379) to make capital expenditures for certain higher education, special schools and tribal schools capital improvements and acquisitions and provide for a general property tax imposition and levy for the payment of principal of, interest on and expenses incurred in connection with the issuance of the bonds and the collection of the tax as permitted by law?

The total for all three questions, including bond issuance costs, is $393,131,780. The State Board of Finance will determine the final property tax rate and estimated annual cost to property owners after the 2026 General Election, based on voter approval, the timing of bond issuance, market interest rates, and statewide assessed property values. Those estimates will be published before the bonds are issued. [Voter guide, from the Department of Finance and Administration.] According to revenue estimators, general obligation bond (GOB) capacity is $392.5 million, or approximately 0.136 percent of the net taxable value of property. Authorizing no more than the stated capacity maintains a flat mill levy. The authorizations in the bill account for the cost of issuing bonds, with amounts verified by the State Board of Finance. Issuance and sale of general obligation bonds require approval by the electorate in the November 2026 general election. General obligation bonds are payable from ad valorem (property) taxes levied on all property in the state subject to property taxation. The bonds are backed by the full faith and credit of the state. If ratified by the voters, general obligation bonds are typically issued by the State Board of Finance in spring following the general election. The funds authorized in this bill will be available to the recipients after a bond sale in the spring of 2027. The state agencies and higher education institutions to which money has been appropriated in this bill shall be responsible for monitoring the projects funded in the bill to ensure compliance with the laws and Constitution of New Mexico and shall cause to be reverted any unexpended or unencumbered balance remaining at the earlier of the third full fiscal year after issuance of the bonds or the termination or completion of the specific project. Reverted funds shall be deposited in the debt service fund established by the state treasurer for the purpose of paying the principal and interest on the state’s general obligation bonds. [Legislative Finance Committee fiscal impact report on CS/House Bill 248/ec/HTRCS (original date 2/14/2026).]