TAX HOLIDAY FOR HUNTING & FISHING SUPPLIES

SB0089

SENATE BILL 89

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

INTRODUCED BY

Nicole Tobiassen

AN ACT

RELATING TO TAXATION; PROVIDING A GROSS RECEIPTS TAX HOLIDAY
DEDUCTION FOR SALES OF CERTAIN FIREARMS AND FIREARM, CAMPING
AND FISHING SUPPLIES FROM SEPTEMBER 8 TO DECEMBER 31 OF EACH
YEAR.

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

SECTION 1.
A new section of the Gross Receipts and
Compensating Tax Act is enacted to read:

"[
NEW MATERIAL
] DEDUCTIONS--GROSS RECEIPTS TAX--CERTAIN
FIREARMS AND FIREARM, CAMPING AND FISHING SUPPLIES.--

A. Receipts from the sale at retail of the
following types of property may be deducted from gross receipts
if:

(1) the sale occurs annually during the period
beginning at 12:01 a.m. on September 8 and ending at midnight
on December 31; and

(2) the sale is for:

(a) fishing tackle and bait if the sales
price is five dollars ($5.00) or less if sold individually or
ten dollars ($10.00) or less if multiple items are sold
together;

(b) camping flashlights and lanterns and
tackle bags and boxes if the sales price is thirty dollars
($30.00) or less;

(c) camping stoves, portable hammocks,
collapsible camping chairs and sleeping bags if the sales price
is fifty dollars ($50.00) or less;

(d) fishing rods and reels if the sales
price is seventy-five dollars ($75.00) or less if sold
individually or one hundred fifty dollars ($150) or less if
sold as a set;

(e) camping tents if the sales price is
two hundred dollars ($200) or less;

(f) firearm ammunition;

(g) firearms, including pistols, rifles
and shotguns;

(h) the following firearm accessories:
1) charging handles; 2) cleaning kits; 3) holsters; 4) pistol
grips; 5) sights; 6) optics; and 7) stocks;

(i) bows;

(j) crossbows; or

(k) the following accessories for bows
and crossbows: 1) arrows; 2) bolts; 3) quarrels; 4) quivers;
5) releases; 6) sights or optics; and 7) wristguards.

B. Receipts for sales made by a business that
operates under a franchise agreement shall not be deducted
pursuant to the provisions of this section.

C. As used in this section:

(1) "ammunition" means an object consisting
of:

(a) a fixed, metallic or nonmetallic
hull or casing containing a primer;

(b) one or more projectiles or one or
more bullets; and

(c) gunpowder;

(2) "bow" means a device:

(a) consisting of flexible material
having a string connecting its two ends, either indirectly by
cables or pulleys or directly, for the purpose of discharging
arrows;

(b) that propels arrows only by the
energy stored by the drawing of the device; and

(c) that is handheld, hand-drawn and
hand-released;

(3) "crossbow" means a device:

(a) consisting of flexible material
having a string connecting its two ends, either indirectly by
cables or pulleys or directly, affixed to a stock for the
purpose of discharging quarrels, bolts or arrows;

(b) that propels quarrels, bolts or
arrows only by the energy stored by the drawing of the device;
and

(c) that uses a non-handheld locking
mechanism to maintain the device in a drawn or ready-to-discharge condition; and

(4) "firearm" means a weapon capable of firing
a missile and includes a pistol, rifle or shotgun using an
explosive charge as a propellant."

SECTION 2.
EFFECTIVE DATE.--The effective date of the
provisions of this act is July 1, 2026.

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