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New MexicoHB 3682025 Regular SessionHouse

HIGH WAGE JOBS TAX CREDIT "THRESHOLD JOB"

Sponsored By: Joshua N. Hernandez (Republican)

Signed by Governor

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Bill Overview

Analyzed Economic Effects

1 provisions identified: 0 benefits, 1 costs, 0 mixed.

Stricter job-count rules for employer tax credits

New Mexico employers must meet job-count tests at each location to claim the high-wage jobs tax credit. At the first 12-month period’s end, the location needs at least one more qualifying job than before the new job began. Later periods must keep at least that first-period ending count. Counted jobs must meet wage rules and have an eligible worker for at least 44 of the first 52 weeks. Employers must report these job counts in annual credit applications. The law sets July 1, 2026, as the cutoff for creating eligible jobs.

Sponsors & Cosponsors

Sponsor

  • Joshua N. Hernandez

    Republican • House

Cosponsors

  • Gail Armstrong

    Republican • House

  • Meredith A. Dixon

    Democratic • House

Roll Call Votes

All Roll Calls

Yes: 103 • No: 0

Senate vote • 3/18/2025

Final Senate Vote

Yes: 38 • No: 0

House vote • 3/11/2025

Final House Vote

Yes: 65 • No: 0

Actions Timeline

  1. Signed by Governor - Chapter 107 - Apr. 8

    4/8/2025Senate

  2. Passed in the Senate - Y:38 N:0

    3/18/2025Senate

  3. STBTC: Reported by committee with Do Pass recommendation

    3/16/2025Senate

  4. Sent to STBTC - Referrals: STBTC

    3/12/2025Senate

  5. Passed in the House of Representatives - Y:65 N:0

    3/11/2025House

  6. HTRC: Reported by committee with Do Pass recommendation

    3/5/2025House

  7. HCEDC: Reported by committee with Do Pass recommendation

    2/27/2025House

  8. Sent to HCEDC - Referrals: HCEDC/HTRC

    2/11/2025Senate

Bill Text

  • Final Version

    4/9/2025

    PDF

  • STBTC Committee Report   3/16/25

    3/16/2025

    PDF

  • HTRC Committee Report   3/05/25

    3/5/2025

    PDF

  • HCEDC Committee Report   2/27/25

    2/27/2025

    PDF

  • Introduced

    2/11/2025

    HTMLPDF

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