# New Mexico SB 383: FLOOD RECOVERY BONDS & GROSS RECEIPTS

New Mexico SB 383, FLOOD RECOVERY BONDS & GROSS RECEIPTS, is a 2025 Regular Session Senate bill sponsored by Candy Spence Ezzell (Republican); status signed, last action 2025-03-28 (Signed by Governor - Chapter 24 - Mar. 28) (as of 2026-10-19).

- Canonical: https://policyrisk.com/state-bill/NM-SB383-2025
- As of: 2026-10-19
- Plain-text twin of the page above; the HTML and this file carry the same facts.

## Facts
- Bill: New Mexico SB 383
- State: New Mexico
- Session: 2025 Regular Session
- Title: FLOOD RECOVERY BONDS & GROSS RECEIPTS
- Status: signed
- Chamber: Senate
- Introduced: 2025-02-13
- Last action: 2025-03-28, Signed by Governor - Chapter 24 - Mar. 28
- Sponsor: Candy Spence Ezzell (Republican)
- Cosponsors: 0
- Touches household money: no
- Roll calls: 2 (101 yes, 0 no in all)
- Economic provisions PRIA read: 2

## Summary

No summary available.

## Bill overview: provisions PRIA read

- Municipalities gain bonds to rebuild flood-damaged property: benefit, low. Effective immediately, municipalities can issue bonds to rebuild, repair, replace, or strengthen municipal property damaged by floods. They must permanently pledge all flood recovery tax revenue to repay the bonds and interest. Revenue bonds generally must be sold within two years of the authorizin…
- Municipalities can add taxes on business receipts: cost, low. Municipalities can impose a flood recovery tax on gross receipts from businesses operating within their boundaries. A majority of the governing body must approve it by ordinance. The combined rate cannot exceed 0.375%, with increases allowed in steps of 0.001%. At adoption, the municipality must de…

## Sponsors and cosponsors

- Sponsor: Candy Spence Ezzell (Republican), Senate

## Roll call votes

| Date | Chamber | Motion | Result | Yes | No | Other |
| --- | --- | --- | --- | --- | --- | --- |
| 2025-03-21 | House | Final House Vote | pass | 62 | 0 |   |
| 2025-03-14 | Senate | Final Senate Vote | pass | 39 | 0 |   |

## Actions (8)

- 2025-03-28: Signed by Governor - Chapter 24 - Mar. 28 (Senate)
- 2025-03-21: Passed in the House of Representatives - Y:62 N:0 (House)
- 2025-03-19: HTRC: Reported by committee with Do Pass recommendation (House)
- 2025-03-17: Sent to HTRC - Referrals: HTRC (Senate)
- 2025-03-14: Passed in the Senate - Y:39 N:0 (Senate)
- 2025-03-13: SFC: Reported by committee with Do Pass recommendation with amendment(s) (Senate)
- 2025-03-07: STBTC: Reported by committee with Do Not Pass but with a Do Pass recommendation on Committee Substitution (Senate)
- 2025-02-13: Sent to STBTC - Referrals: STBTC/SFC (Senate)

## Bill text

- Final Version, 2025-03-31: [PDF](https://www.nmlegis.gov/Sessions/25%20Regular/final/SB0383.pdf)
- HTRC Committee Report 3/19/25, 2025-03-19: [PDF](https://www.nmlegis.gov/Sessions/25%20Regular/bills/senate/SB0383TR1.pdf)
- SFC Committee Report 3/13/25, 2025-03-13: [PDF](https://www.nmlegis.gov/Sessions/25%20Regular/bills/senate/SB0383FC1.pdf)
- STBTC Committee Report 3/07/25, 2025-03-07: [PDF](https://www.nmlegis.gov/Sessions/25%20Regular/bills/senate/SB0383CT1.pdf)
- STBTC Committee Substitute 3/07/25, 2025-03-07: [PDF](https://www.nmlegis.gov/Sessions/25%20Regular/bills/senate/SB0383CTS.pdf)
- Introduced, 2025-02-13: [HTML](https://www.nmlegis.gov/Sessions/25%20Regular/bills/senate/SB0383.html), [PDF](https://www.nmlegis.gov/Sessions/25%20Regular/bills/senate/SB0383.pdf)

## Related bills

- HB 2: GENERAL APPROPRIATION ACT OF 2025 (signed)
- SB 45: COUNTY HEALTH CARE ASSISTANCE FUND USE (signed)
- SB 343: TEACHER SALARY RATES CHANGES (signed)
- SB 345: TEACHER & INSTRUCTIONAL SUPPORT LICENSURE (signed)
- SB 133: EDUCATIONAL RETIREES RETURNING TO WORK (signed)
- HB 157: NEW SCHOOL LICENSES (signed)

## Sources
- [Final Version (PDF)](https://www.nmlegis.gov/Sessions/25%20Regular/final/SB0383.pdf)
- [HTRC Committee Report 3/19/25 (PDF)](https://www.nmlegis.gov/Sessions/25%20Regular/bills/senate/SB0383TR1.pdf)
- [SFC Committee Report 3/13/25 (PDF)](https://www.nmlegis.gov/Sessions/25%20Regular/bills/senate/SB0383FC1.pdf)
- [STBTC Committee Report 3/07/25 (PDF)](https://www.nmlegis.gov/Sessions/25%20Regular/bills/senate/SB0383CT1.pdf)
- [STBTC Committee Substitute 3/07/25 (PDF)](https://www.nmlegis.gov/Sessions/25%20Regular/bills/senate/SB0383CTS.pdf)
- [Introduced (HTML)](https://www.nmlegis.gov/Sessions/25%20Regular/bills/senate/SB0383.html)
- [Introduced (PDF)](https://www.nmlegis.gov/Sessions/25%20Regular/bills/senate/SB0383.pdf)

## Related
- [HB 2: GENERAL APPROPRIATION ACT OF 2025](https://policyrisk.com/state-bill/NM-HB2-2025)
- [SB 45: COUNTY HEALTH CARE ASSISTANCE FUND USE](https://policyrisk.com/state-bill/NM-SB45-2025)
- [SB 343: TEACHER SALARY RATES CHANGES](https://policyrisk.com/state-bill/NM-SB343-2025)
- [SB 345: TEACHER & INSTRUCTIONAL SUPPORT LICENSURE](https://policyrisk.com/state-bill/NM-SB345-2025)
- [SB 133: EDUCATIONAL RETIREES RETURNING TO WORK](https://policyrisk.com/state-bill/NM-SB133-2025)
- [HB 157: NEW SCHOOL LICENSES](https://policyrisk.com/state-bill/NM-HB157-2025)
- [New Mexico bills](https://policyrisk.com/states/new-mexico/bills)
- [New Mexico state hub](https://policyrisk.com/states/new-mexico)
- [All state legislation](https://policyrisk.com/state-bills)

Source: PRIA, https://policyrisk.com/state-bill/NM-SB383-2025 (as of 2026-10-19).