All Roll Calls
Yes: 98 • No: 0
New MexicoHB 692025 Regular SessionHouseWALLET
LOAN FORGIVENESS MULTIPLIER ACT
Sponsored By: Joy Garratt (Democratic)
Signed by Governor
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Bill Overview
Analyzed Economic Effects
2 provisions identified: 2 benefits, 0 costs, 0 mixed.
More loan forgiveness work credit for adjuncts
Beginning July 1, 2025, qualifying New Mexico colleges must give current and former adjunct and contingent faculty more work-hour credit. This applies to colleges recognized as qualifying employers for federal Public Service Loan Forgiveness. Colleges must count at least 4.35 work hours per credit or classroom contact hour when deciding full-time status. The calculation can cover work on or after October 1, 2007, only for this loan forgiveness purpose. Colleges must count consecutive academic terms as continuous employment when that maximizes full-time employment. They must also adopt a policy to maximize time counted as full-time. More favorable federal rules and higher multipliers in labor agreements or employer policies still apply.
College workers get loan forgiveness paperwork help
Beginning July 1, 2025, New Mexico colleges recognized as qualifying federal loan forgiveness employers must certify workers' employment. They must do so when current or former workers ask and when employees leave, without unreasonable delays. Certification must cover the requested period, or all employment if no period is named. Direct submission to the U.S. Department of Education or its agents is allowed only when the department permits it. New Mexico's Higher Education Department must prepare and update program guidance and coordinate its availability with other state agencies. Materials must include a standard letter, a detailed fact sheet with official resources, and answers to common questions. Covered colleges must give the latest materials to all employees annually and new hires within 30 days of starting work. They can share materials on paper or electronically, including during new-hire orientation.
Sponsors & Cosponsors
Sponsor
Joy Garratt
Democratic • House
Cosponsors
Leo Jaramillo
Democratic • Senate
Roll Call Votes
Senate vote • 3/20/2025
Final Senate Vote
Yes: 40 • No: 0
House vote • 2/26/2025
Final House Vote
Yes: 58 • No: 0
Actions Timeline
Signed by Governor - Chapter 90 - Apr. 8
4/8/2025SenatePassed in the Senate - Y:40 N:0
3/20/2025SenateSFC: Reported by committee with Do Pass recommendation
3/6/2025SenateSEC: Reported by committee with Do Pass recommendation
3/3/2025SenateSent to SEC - Referrals: SEC/SFC
2/26/2025SenatePassed in the House of Representatives - Y:58 N:0
2/26/2025HouseHEC: Reported by committee with Do Pass recommendation
2/19/2025HouseHGEIC: Reported by committee with Do Pass recommendation
2/3/2025HouseSent to HGEIC - Referrals: HGEIC/HEC
1/23/2025SenateSent to HPREF - Referrals: HPREF
Senate
Bill Text
Final Version
4/9/2025
SFC Committee Report 3/06/25
3/6/2025
SEC Committee Report 3/03/25
3/3/2025
HEC Committee Report 2/19/25
2/19/2025
HGEIC Committee Report 2/03/25
2/3/2025
Introduced
1/9/2025