2026 Constitutional Amendments & Bond Issues
For details on all proposed constitutional amendments and bond issues, see below or click HERE for a pdg you can download.
Constitutional Amendments
Amendment
1 — Governor vetoes/pocket vetoes. Recommendation: Vote YES.
It would eliminate the governor’s ability to allow certain legislation to die through inaction. A bill passed by the Legislature that the governor neither signs nor vetoes within the applicable constitutional period would become law. It would also require an explanation for every full or partial veto. The proposal passed the House 66–0 and Senate 38–0.
Amendment 2 — School election timing. Recommendation: Vote YES.
It would remove the constitutional requirement that school elections occur at a different time from partisan elections. Under existing statutes, school-board members would continue to be elected through the nonpartisan Regular Local Election. The change would, among other things, permit school districts to put questions such as bonds or mill levies on general-election ballots. The
proposal passed the Senate 38–0 and House 50–9.
Amendment 3 — Boards of regents. Recommendation: Vote YES.
It would significantly change how candidates for boards of regents are nominated and appointed. Institution-specific nominating committees would provide lists from which the governor would appoint nonstudent regents, subject to Senate confirmation. It passed the House 67–0 and Senate 34–7.
Amendment 4 — Legislative compensation. Recommendation: Vote NO.
New Mexico legislators currently receive a very high per diem, mileage, and may participate in the state’s Legislative Retirement Plan. Please see the accompanying regional comparison of all legislative benefits. Legislators currently contribute $1,000 for each year of service credit toward that
pension.
In the regional comparison, New Mexico has the second-highest per diem and second-highest illustrated legislative pension among the states compared. The amendment would add annual compensation tied to New Mexico’s median household income. Using approximately $67,800, the resulting salary would be the highest legislative salary among the states included in that regional comparison. The annual salary would exceed half of New Mexico’s household income, and the legislator’s obligation would remain a 30-day or 60-day legislative session each year. The
salary will automatically adjust each year. Legislators would also remain entitled to per diem, mileage, and the pension.
The total estimated cost to taxpayers is more than $7.6 million annually because of employer payroll taxes and other benefits. The proposal passed the House 41–26 and Senate 23–19.
Statewide Bond Issues
What does “general obligation (GO) bond” mean for taxpayers?
The legislation authorizes a statewide property-tax levy to pay principal, interest, and related bond expenses on debt backed by the State of New Mexico.
NOTE: PROPERTY-TAX EFFECT: The Legislative Financial Committee (LFC) estimated that the 2026 GO bond package was within the state’s available bonding capacity and could be issued while maintaining a flat statewide debt-service mill levy as older GO debt is retired. If that’s true, your taxes should not increase as a result of passage of these bonds. If voters reject these new bonds, the state would not incur that new debt, and property taxes could decrease.
Financing a major building renovation or new construction with long-term debt is different from financing vehicles or equipment that may require replacement in less than the life of the bonds.
Bond 1 — Senior facilities Recommendation: Vote NO.
Ballot authorization: $21,582,213
A substantial portion of this bond package finances vehicles and equipment, which typically have shorter lifespans than the bonds. The state is borrowing money to purchase items that should be expensed, and not be part of the state’s long-term debt structure. A specific list of items is below.
Bond 2 — Libraries Recommendation: Vote NO
Ballot authorization: $19,324,188 Many of the eligible expenditures, including computers and other technology, equipment, furniture, electronic resources, and library materials, will likely have shorter useful lives than the bond’s debt service. The bonds may remain outstanding for up to 11 years, meaning some items could potentially become obsolete or require replacement while debt issued to finance the overall program remains outstanding. |
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Bond 3 — Higher education, special and tribal schools. Recommendation: Vote YES.
Ballot Authorization: $352,225,379.
This bond accounts for approximately 89.6% of all principal authorized by the three bond questions. These projects are primarily capital improvements, and it is properly structured, but voters should consider the potential decrease in property taxes if they vote against this bond question.
Detail on the Bond Issues
Illustrative impact on property taxes. Actual interest costs will not be known until the bonds are sold. Using the existing financing structure for this example, the economic debt-service cost is approximately $46 per year per $100,000 of taxable value. This is an estimate of the bond’s impact on property taxes and not an indication that a property-tax bill will rise by $46 per year
Bond | Approx. annual cost per $100,000 taxable home value* |
Bond 1 – Senior facilities | $2.54/year |
Bond 2 – Libraries | $2.28/year |
Bond 3 – Higher education | $41.50/year |
All three bond issues | ~$46.33/year |
* “Taxable value” is not the same as market value. For residential property in New Mexico, taxable value is generally based on one-third of assessed value before applicable exemptions. Thus, $100,000 of taxable value would roughly correspond to $300,000 of assessed value before exemptions.
The figures stated are not the final taxpayer cost because they exclude interest and issuance expenses. HB 248 requires an annual statewide ad valorem property-tax levy sufficient to meet principal and interest while the bonds are outstanding.
Voters vote on each of the three bond questions separately. Within each question, however, voters approve or reject the entire category of projects; voters cannot approve or reject individual projects within that bond question.
Not every item has the same useful life. Financing a major building renovation or new construction with long-term debt is different from financing vehicles or equipment that may require replacement in less than the life of the bonds.
Bond 1 Senior facilities – Detail
Location / Facility | What the money is for | Amount |
Albuquerque – Barelas Senior Center | Plan/design/construct/furnish/equip improvements | $1,000,000 |
Albuquerque – CASA Kitchen | Vehicles | $750,000 |
Albuquerque – Cibola Loop Multigenerational Center | Improvements | $3,000,000 |
Albuquerque – Los Volcanes Senior Center | Meal equipment + facility improvements | $330,000 |
Albuquerque – Manzano Mesa Multigenerational Center | Meal equipment + improvements | $975,000 |
Albuquerque – North Domingo Baca | Meal/other equipment | $55,000 |
Albuquerque – North Valley Senior Center | Meal/other equipment | $21,500 |
Albuquerque – Palo Duro Senior Center | Meal/other equipment | $20,000 |
Pueblo of Isleta – Elder Center | Vehicles | $350,000 |
Quemado – Senior Center | Vehicles + improvements | $250,000 |
Roswell – JOY Center | Meal/other equipment | $105,000 |
Clovis – Los Abuelitos | Improvements | $50,000 |
Clovis – Hillcrest Senior Center | Improvements | $900,000 |
Clovis – La Casa Senior Center | Improvements including parking | $31,000 |
Melrose – Senior Center | Vehicles | $110,000 |
Anthony – Senior Center | Vehicles | $160,000 |
Las Cruces – Doña Ana Community Center | Vehicles | $40,000 |
Mesilla – Community Center | Improvements | $20,000 |
Carlsbad – Alejandro Ruiz Senior Center | Vehicles | $332,500 |
Artesia – Senior Center | Vehicles | $35,000 |
Carlsbad – Adult Respite Center | Vehicles | $56,250 |
Carlsbad – San Jose Senior Center | Vehicles | $245,000 |
Santa Clara – Senior Center | Meal/other equipment | $200,000 |
Silver City – Senior Center | Vehicles + facility improvements | $900,000 |
Anton Chico – La Loma Senior Center | Meal/other equipment | $30,000 |
Puerto de Luna – Senior Center | Meal/other equipment | $30,000 |
Lordsburg – Ena Mitchell Senior Center | Meal/other equipment | $20,000 |
Lovington – Senior Center | Improvements | $180,000 |
Eunice – Senior Center | Vehicles | $50,000 |
Jal – Senior Center | Improvements, including parking | $650,000 |
Capitan – Senior Center | Meal/other equipment | $45,000 |
Ruidoso – Community Center | Improvements, including parking | $2,600,000 |
Los Alamos – Betty Erhart Senior Center | Vehicles | $125,000 |
Ramah Navajo Chapter – Senior Center | Meal equipment/furnishings | $250,000 |
Thoreau Navajo Chapter – Senior Center | Improvements | $250,000 |
Otero County – Senior Centers | Vehicles | $260,000 |
Chimayo – La Arboleda Senior Center | Vehicles | $150,000 |
Santa Clara Pueblo – Adult Day Care | Facility improvements | $565,000 |
Santa Clara Pueblo – Senior Center | Vehicles | $30,000 |
Aztec – Senior Center | Vehicles + improvements/parking | $50,000 |
Bloomfield – Senior Center | Vehicles | $30,000 |
Farmington – Bonnie Dallas Senior Center | Facility improvements | $500,000 |
Fruitland – Lower Valley Senior Center | Vehicles | $170,000 |
Rio Rancho – Meadowlark Senior Center | Improvements + walk-in refrigerator/freezer | $280,000 |
Santo Domingo Pueblo – Senior Center | Vehicles + improvements | $210,000 |
Whitehorse Lake – Senior Center | Improvements, including paving dirt road | $850,000 |
Edgewood – Senior Center | Vehicles | $130,000 |
Eldorado – Senior Center | Meal/other equipment | $50,000 |
Eldorado – Ken & Patty Adams Senior Center | Vehicles | $85,000 |
El Rancho – Senior Center | Vehicles | $85,000 |
Santa Fe County – Senior Services | Vehicles | $160,000 |
Santa Cruz – Senior Center | Vehicles | $85,000 |
El Rancho – Senior Center | Meal/other equipment | $30,000 |
Truth or Consequences – Ken James Senior Center | Meal/other equipment | $25,000 |
Socorro – Senior Center | Vehicles | $150,000 |
Magdalena – Senior Center | Facility improvements | $650,000 |
Taos Pueblo – Senior Center | Meal/other equipment | $250,000 |
Clayton – Senior Center | Meal/other equipment | $110,000 |
Belen – Senior Center | Vehicles + facility improvements | $685,000 |
Valencia County – Highland Meadow Senior Center | Facility improvements | $1,500,000 |
Bond 2 Libraries – Detail
The Legislature doesn’t list individual local libraries. Instead, the Legislature divides the money into four statewide pools:
Recipient | What can be purchased | Amount |
Nontribal public libraries statewide | Equipment, furniture, fixtures, print/non-print/electronic resources, collaborative resources, IT, broadband equipment/infrastructure | $ 6,000,000 |
Public-school libraries statewide | Equipment, print/non-print/electronic resources, collaborative resources, IT | $ 6,000,000 |
Academic libraries statewide | Books, equipment, electronic resources, collaborative resources, IT | $ 6,000,000 |
Tribal libraries statewide | Equipment, furniture, fixtures, print/non-print/electronic resources, collaborative resources, IT and broadband infrastructure | $ 1,000,000 |
TOTAL PROJECT APPROPRIATIONS | $19,000,000 |
Bond 3 Higher education, special and tribal schools – Detail
Institution / Location | Specific project | Amount |
ENMU – Portales | New agriculture science and art annex | $15,000,000 |
ENMU – Roswell | Campus improvements | $ 3,000,000 |
ENMU – Ruidoso | Child-care laboratory | $ 975,000 |
NM Highlands – Las Vegas | Thomas C. Donnelly Library and annex improvements | $ 9,000,000 |
NM Tech – Socorro | Bureau of Geology core research facility | $ 8,000,000 |
NM Tech – Socorro | Mineral Science & Engineering Complex improvements | $40,000,000 |
NMSU – Las Cruces | New multidisciplinary academic facility, including demolition | $55,000,000 |
NMSU – Las Cruces | Critical infrastructure and other improvements | $20,000,000 |
NMSU – Alamogordo | Improvements, including electronic access control | $ 1,000,000 |
Doña Ana Community College – Sunland Park | Campus improvements | $ 4,000,000 |
NMSU – Grants | Access control, abatement, exterior doors and improvements | $ 1,000,000 |
Mora County | NMSU reforestation center | $ 17,650,000 |
UNM – Albuquerque | School of Medicine | $116,000,000 |
UNM – Los Alamos | Buildings 1 & 7 improvements | $ 3,000,000 |
UNM – Gallup | Calvin Hall north-wing improvements | $ 3,000,000 |
UNM – Taos | Pueblo Hall improvements | $ 2,500,000 |
UNM – Valencia/Los Lunas | Campus improvements | $ 1,000,000 |
Western NM University – Silver City | Campus improvements | $ 3,000,000 |
Northern New Mexico College – Española | Improvements, including infrastructure | $ 5,000,000 |
NM Military Institute – Roswell | Educational facility | $ 5,000,000 |
NM School for the Deaf – Santa Fe | Dillon Hall and other facility improvements | $ 6,500,000 |
CNM – Albuquerque | Center for Technical Innovation & Entrepreneurial Development | $15,000,000 |
Clovis Community College | Improvements | $ 1,000,000 |
NM Junior College – Hobbs | John Shepherd Administration Building improvements | $ 1,000,000 |
Luna Community College – Las Vegas | Allied Health Building improvements | $ 2,000,000 |
Mesalands CC – Tucumcari | Improvements, including heating/cooling systems | $ 750,000 |
San Juan College – Farmington | Water utilities, hot-water-loop system and infrastructure | $ 4,200,000 |
Santa Fe Community College | Library and 500s-area facility improvements | $ 2,000,000 |
Southeast NM College – Carlsbad | Main entryway/welcome-center improvements | $ 1,000,000 |
Institute of American Indian Arts – Santa Fe | Improvements | $ 1,000,000 |
Diné College facilities in NM | Improvements | $ 2,000,000 |
Navajo Technical University facilities in NM | Improvements | $ 2,000,000 |
CNM Center for Technical Innovation & Entrepreneurial Development $15,000,000
Have additional questions or comments? Email nmbiz@nmbizcoalition.org or call (505) 836-4223.
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