# New Mexico SB 48: STATE FAIRGROUNDS DISTRICT BONDS

New Mexico SB 48, STATE FAIRGROUNDS DISTRICT BONDS, is a 2026 Regular Session Senate bill sponsored by Mimi Stewart (Democratic); status signed, last action 2026-03-05 (Signed by Governor - Chapter 33 - Mar. 5) (as of 2026-10-15).

- Canonical: https://policyrisk.com/state-bill/NM-SB48-2026
- As of: 2026-10-15
- Plain-text twin of the page above; the HTML and this file carry the same facts.

## Facts
- Bill: New Mexico SB 48
- State: New Mexico
- Session: 2026 Regular Session
- Title: STATE FAIRGROUNDS DISTRICT BONDS
- Status: signed
- Chamber: Senate
- Introduced: 2026-01-21
- Last action: 2026-03-05, Signed by Governor - Chapter 33 - Mar. 5
- Sponsor: Mimi Stewart (Democratic)
- Cosponsors: 1
- Touches household money: no
- Roll calls: 2 (68 yes, 18 no in all)
- Economic provisions PRIA read: 1

## Summary

No summary available.

## Bill overview: provisions PRIA read

- State Fairgrounds District gets bond authority: benefit, low. The State Fairgrounds District can issue bonds raising up to $92 million in net proceeds. This counts toward the existing $500 million total limit, rather than adding to it. All or part of its gross receipts and gaming tax distributions back repayment of the bonds and interest. The law does not spe…

## Sponsors and cosponsors

- Sponsor: Mimi Stewart (Democratic), Senate
- Cosponsor: Janelle Anyanonu (Democratic), House

## Roll call votes

| Date | Chamber | Motion | Result | Yes | No | Other |
| --- | --- | --- | --- | --- | --- | --- |
| 2026-02-19 | House | Final House Vote | pass | 42 | 6 |   |
| 2026-02-06 | Senate | Final Senate Vote | pass | 26 | 12 |   |

## Actions (10)

- 2026-03-05: Signed by Governor - Chapter 33 - Mar. 5 (Senate)
- 2026-02-19: Passed in the House of Representatives - Y:42 N:6 (House)
- 2026-02-14: HTRC: Reported by committee with Do Pass recommendation (House)
- 2026-02-12: HCEDC: Reported by committee with Do Pass recommendation (House)
- 2026-02-09: Sent to HCEDC - Referrals: HCEDC/HTRC (Senate)
- 2026-02-06: Passed in the Senate - Y:26 N:12 (Senate)
- 2026-02-02: SFC: Reported by committee with Do Pass recommendation (Senate)
- 2026-01-28: STBTC: Reported by committee with Do Pass recommendation (Senate)
- 2026-01-22: SCC: Reported by committee to fall within the purview of a 30 day session (Senate)
- 2026-01-21: Sent to SCC - Referrals: SCC/STBTC/SFC (Senate)

## Bill text

- Final Version, 2026-03-06: [PDF](https://www.nmlegis.gov/Sessions/26%20Regular/final/SB0048.pdf)
- HTRC Committee Report 2/14/26, 2026-02-14: [PDF](https://www.nmlegis.gov/Sessions/26%20Regular/bills/senate/SB0048TR1.pdf)
- HCEDC Committee Report 2/12/26, 2026-02-12: [PDF](https://www.nmlegis.gov/Sessions/26%20Regular/bills/senate/SB0048CE1.pdf)
- SFC Committee Report 2/02/26, 2026-02-02: [PDF](https://www.nmlegis.gov/Sessions/26%20Regular/bills/senate/SB0048FC1.pdf)
- STBTC Committee Report 1/28/26, 2026-01-28: [PDF](https://www.nmlegis.gov/Sessions/26%20Regular/bills/senate/SB0048CT1.pdf)
- SCC Committee Report 1/22/26, 2026-01-22: [PDF](https://www.nmlegis.gov/Sessions/26%20Regular/bills/senate/SB0048CC1.pdf)
- Introduced, 2026-01-21: [HTML](https://www.nmlegis.gov/Sessions/26%20Regular/bills/senate/SB0048.html), [PDF](https://www.nmlegis.gov/Sessions/26%20Regular/bills/senate/SB0048.pdf)

## Related bills

- SB 151: CORPORATE INCOME TAX CHANGES (signed)
- HB 2: GENERAL APPROPRIATION ACT OF 2026 (signed)
- SB 241: CHILD CARE ASSISTANCE PROGRAM ACT (signed)
- SB 96: REGULATED CHILD CARE ZONING REQUIREMENTS (signed)
- HB 248: GENERAL OBLIGATION BONDS (signed)
- HB 30: TEACHER RESIDENCY ACT CHANGES (signed)

## Sources
- [Final Version (PDF)](https://www.nmlegis.gov/Sessions/26%20Regular/final/SB0048.pdf)
- [HTRC Committee Report 2/14/26 (PDF)](https://www.nmlegis.gov/Sessions/26%20Regular/bills/senate/SB0048TR1.pdf)
- [HCEDC Committee Report 2/12/26 (PDF)](https://www.nmlegis.gov/Sessions/26%20Regular/bills/senate/SB0048CE1.pdf)
- [SFC Committee Report 2/02/26 (PDF)](https://www.nmlegis.gov/Sessions/26%20Regular/bills/senate/SB0048FC1.pdf)
- [STBTC Committee Report 1/28/26 (PDF)](https://www.nmlegis.gov/Sessions/26%20Regular/bills/senate/SB0048CT1.pdf)
- [SCC Committee Report 1/22/26 (PDF)](https://www.nmlegis.gov/Sessions/26%20Regular/bills/senate/SB0048CC1.pdf)
- [Introduced (HTML)](https://www.nmlegis.gov/Sessions/26%20Regular/bills/senate/SB0048.html)
- [Introduced (PDF)](https://www.nmlegis.gov/Sessions/26%20Regular/bills/senate/SB0048.pdf)

## Related
- [SB 151: CORPORATE INCOME TAX CHANGES](https://policyrisk.com/state-bill/NM-SB151-2026)
- [HB 2: GENERAL APPROPRIATION ACT OF 2026](https://policyrisk.com/state-bill/NM-HB2-2026)
- [SB 241: CHILD CARE ASSISTANCE PROGRAM ACT](https://policyrisk.com/state-bill/NM-SB241-2026)
- [SB 96: REGULATED CHILD CARE ZONING REQUIREMENTS](https://policyrisk.com/state-bill/NM-SB96-2026)
- [HB 248: GENERAL OBLIGATION BONDS](https://policyrisk.com/state-bill/NM-HB248-2026)
- [HB 30: TEACHER RESIDENCY ACT CHANGES](https://policyrisk.com/state-bill/NM-HB30-2026)
- [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-SB48-2026 (as of 2026-10-15).