Committee backs bill to return some gross receipts tax revenue to municipalities and counties The committee gave House Bill 160 a ‘do pass’ recommendation after sponsors and local officials said the measure would reverse a 2019 change that diverted oil-and-gas gross receipts taxes away from host municipalities, returning funds for infrastructure and public safety.

House Bill 160 aims to restore $13 million in annual tax revenue to struggling New Mexico municipalities, revitalizing essential services and infrastructure.

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#NM #CitizenPortal #NewMexicoMunicipalities #PublicSafety #InfrastructureFunding #RevenueSharing

Committee considers exempting coinsurance from GRT and extending sunset; municipal leaders warn of revenue loss Senate Bill 13 would add coinsurance to GRT exemptions for medical costs and extend the exemption sunset from 2028 to 2031. Supporters called it cleanup to aid independent practices; municipal and county representatives warned of significant losses to local revenues. The committee held the measure for further work.

Senate Bill 13 could reshape healthcare costs in New Mexico by adding coinsurance to tax exemptions, but local leaders warn of potential revenue losses that could impact essential services.

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#NM #NewMexicoMunicipalities #LocalRevenue #HealthcareReform #CitizenPortal #TaxPolicy

New Mexico lawmakers amend governing body voting and redistricting procedures New Mexico legislature updates municipal voting and redistricting regulations for governing bodies.

New Mexico's House Bill 298 could revolutionize local governance by changing how mayors vote and redistricting processes, igniting a heated debate on power and accountability.

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#NM #NewMexicoMunicipalities #CitizenPortal #LocalGovernance #VotingReform #CommunityRepresentation

New Mexico bill seeks to redirect oil and gas tax revenue to municipalities House Bill 292 aims to restore essential tax revenue to affected New Mexico cities.

A groundbreaking bill in New Mexico could finally give oil-rich municipalities like Hobbs and Carlsbad the financial boost they desperately need, restoring millions in lost tax revenue.

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#NM #EconomicEquity #ResourceDistribution #NewMexicoMunicipalities #LegislativeReform

New Mexico enacts tax distribution for cities and counties fund starting July 2025 New law mandates eight percent distribution to cities and counties from gross receipts tax

New Mexico's House Bill 292 could revolutionize local funding by directing a significant portion of tax revenues to support essential services in cities and counties.

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#NM #LocalEconomies #CommunityDevelopment #PublicServices #NewMexicoMunicipalities #CitizenPortal

Taxation department establishes new fund transfer formula for municipalities and counties Taxation department sets new transfer calculations for counties and municipalities by 2026

New Mexico's House Bill 292 could revolutionize how funds are distributed to municipalities, promising a fairer allocation that addresses long-standing inequities.

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#NM #EconomicEquity #NewMexicoMunicipalities #FundingReform #CitizenPortal