# New Mexico SB 58: EXTEND PROPERTY TAX EXEMPTION PERIOD

New Mexico SB 58, EXTEND PROPERTY TAX EXEMPTION PERIOD, is a 2026 Regular Session Senate bill sponsored by Heather Berghmans (Democratic); status signed, last action 2026-03-04 (Signed by Governor - Chapter 23 - Mar. 4); PRIA reads it as touching household money (as of 2026-10-15).

- Canonical: https://policyrisk.com/state-bill/NM-SB58-2026
- 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 58
- State: New Mexico
- Session: 2026 Regular Session
- Title: EXTEND PROPERTY TAX EXEMPTION PERIOD
- Status: signed
- Chamber: Senate
- Introduced: 2026-01-21
- Last action: 2026-03-04, Signed by Governor - Chapter 23 - Mar. 4
- Sponsor: Heather Berghmans (Democratic)
- Cosponsors: 3
- Touches household money: yes
- Roll calls: 2 (93 yes, 8 no in all)
- Economic provisions PRIA read: 1

## Summary

No summary available.

## Bill overview: provisions PRIA read

- Longer redevelopment tax breaks, but yearly payments: mixed, low. The law extends property-tax exemptions for qualifying New Mexico metropolitan redevelopment property acquired or held on or after January 1, 1986. The exemption starts when the municipality acquires the property. It ends December 31 of a year no later than the acquisition's 14th anniversary year.…

## Sponsors and cosponsors

- Sponsor: Heather Berghmans (Democratic), Senate
- Cosponsor: Cindy Nava (Democratic), Senate
- Cosponsor: Cristina Parajón (Democratic), House
- Cosponsor: Nicole Tobiassen (Republican), Senate

## Roll call votes

| Date | Chamber | Motion | Result | Yes | No | Other |
| --- | --- | --- | --- | --- | --- | --- |
| 2026-02-16 | House | Final House Vote | pass | 66 | 0 |   |
| 2026-02-05 | Senate | Final Senate Vote | pass | 27 | 8 |   |

## Actions (10)

- 2026-03-04: Signed by Governor - Chapter 23 - Mar. 4 (Senate)
- 2026-02-16: Passed in the House of Representatives - Y:66 N:0 (House)
- 2026-02-13: HTRC: Reported by committee with Do Pass recommendation (House)
- 2026-02-10: HCEDC: Reported by committee with Do Pass recommendation (House)
- 2026-02-06: Sent to HCEDC - Referrals: HCEDC/HTRC (Senate)
- 2026-02-05: Passed in the Senate - Y:27 N:8 (Senate)
- 2026-02-04: SFC: Reported by committee with Do Pass recommendation with amendment(s) (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, 2026-03-05: [PDF](https://www.nmlegis.gov/Sessions/26%20Regular/final/SB0058.pdf)
- HTRC Committee Report 2/13/26, 2026-02-13: [PDF](https://www.nmlegis.gov/Sessions/26%20Regular/bills/senate/SB0058TR1.pdf)
- HCEDC Committee Report 2/10/26, 2026-02-10: [PDF](https://www.nmlegis.gov/Sessions/26%20Regular/bills/senate/SB0058CE1.pdf)
- SFC Committee Report 2/04/26, 2026-02-04: [PDF](https://www.nmlegis.gov/Sessions/26%20Regular/bills/senate/SB0058FC1.pdf)
- STBTC Committee Report 1/28/26, 2026-01-28: [PDF](https://www.nmlegis.gov/Sessions/26%20Regular/bills/senate/SB0058CT1.pdf)
- SCC Committee Report 1/22/26, 2026-01-22: [PDF](https://www.nmlegis.gov/Sessions/26%20Regular/bills/senate/SB0058CC1.pdf)
- Introduced, 2026-01-21: [HTML](https://www.nmlegis.gov/Sessions/26%20Regular/bills/senate/SB0058.html), [PDF](https://www.nmlegis.gov/Sessions/26%20Regular/bills/senate/SB0058.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/SB0058.pdf)
- [HTRC Committee Report 2/13/26 (PDF)](https://www.nmlegis.gov/Sessions/26%20Regular/bills/senate/SB0058TR1.pdf)
- [HCEDC Committee Report 2/10/26 (PDF)](https://www.nmlegis.gov/Sessions/26%20Regular/bills/senate/SB0058CE1.pdf)
- [SFC Committee Report 2/04/26 (PDF)](https://www.nmlegis.gov/Sessions/26%20Regular/bills/senate/SB0058FC1.pdf)
- [STBTC Committee Report 1/28/26 (PDF)](https://www.nmlegis.gov/Sessions/26%20Regular/bills/senate/SB0058CT1.pdf)
- [SCC Committee Report 1/22/26 (PDF)](https://www.nmlegis.gov/Sessions/26%20Regular/bills/senate/SB0058CC1.pdf)
- [Introduced (HTML)](https://www.nmlegis.gov/Sessions/26%20Regular/bills/senate/SB0058.html)
- [Introduced (PDF)](https://www.nmlegis.gov/Sessions/26%20Regular/bills/senate/SB0058.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)
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Source: PRIA, https://policyrisk.com/state-bill/NM-SB58-2026 (as of 2026-10-15).