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SB142 • 2026

SEVERANCE BONDS FOR ED. TECHNOLOGY

SEVERANCE BONDS FOR ED. TECHNOLOGY

Technology
Did Not Pass

The latest official action shows that this bill did not move forward in that session.

Sponsor
Senator George K. Muñoz
Last action
Official status
[3] SCC/SEC/SFC-SCC API.
Effective date
Not listed

Plain English Breakdown

Using official source text because the generated explanation was unavailable or could not be confirmed against the official bill text.

SEVERANCE BONDS FOR ED. TECHNOLOGY

SEVERANCE BONDS FOR ED.

What This Bill Does

  • SEVERANCE BONDS FOR ED.
  • TECHNOLOGY

Limits and Unknowns

  • This entry is temporarily using official source text because the generated explanation could not be confirmed against the official bill text during the last sync.

Bill History

  1. 2026-01-26 New Mexico Legislature

    Sent to SCC - Referrals: SCC/SEC/SFC

  2. New Mexico Legislature

    Action Postponed Indefinitely

Official Summary Text

SEVERANCE BONDS FOR ED. TECHNOLOGY

Current Bill Text

Read the full stored bill text 
SB0142

SENATE BILL 142

57th legislature - STATE OF NEW MEXICO - second session, 2026

INTRODUCED BY

George K. Muñoz

AN ACT

PROVIDING A DELAYED REPEAL OF AN AUTHORIZATION TO ISSUE AND
SELL SUPPLEMENTAL SEVERANCE TAX BONDS FOR EDUCATION TECHNOLOGY
INFRASTRUCTURE; CONFORMING SECTION 7-27-12.6 NMSA 1978 (BEING
LAWS 2025, CHAPTER 82, SECTION 2).

BE IT ENACTED BY THE LEGISLATURE OF THE STATE OF NEW MEXICO:

SECTION 1.
Section 7-27-12.6 NMSA 1978 (being Laws 2025,
Chapter 82, Section 2) is amended to read:

"7-27-12.6. SUPPLEMENTAL SEVERANCE TAX BONDS--EDUCATION
TECHNOLOGY INFRASTRUCTURE.--

A. The director of the office of broadband access
and expansion may certify that up to ten million dollars
($10,000,000) of proceeds of supplemental severance tax bonds
per fiscal year are needed for expenditures relating to
education technology infrastructure pursuant to the Broadband
Access and Expansion Act. The certification shall specify the
total amount needed.

B. The state board of finance may issue and sell
supplemental severance tax bonds in compliance with the
Severance Tax Bonding Act when the director of the office of
broadband access and expansion certifies the need for the
issuance of the bonds pursuant to the Broadband Access and
Expansion Act. The amount of the bonds sold at each sale shall
not exceed the lesser of:

(1) the total of the amounts certified by the
director of the office of broadband access and expansion; or

(2) the amount that may be issued pursuant to
the restrictions of Section 7-27-14 NMSA 1978.

C. The state board of finance shall schedule the
issuance and sale of the bonds in the most expeditious and
economical manner possible.

D. The proceeds from the sale of the bonds are
appropriated to the education technology infrastructure fund
for the purposes of the fund.

[
E. The provisions of this section shall be
repealed effective July 1, 2030.
]"

SECTION 2.
DELAYED REPEAL.--Section 7-27-12.6 NMSA 1978
(being Laws 2025, Chapter 82, Section 2) is repealed effective
July 1, 2030.

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