New NM laws in effect as of July 1

New NM laws in effect as of July 1

  • Post published:July 7, 2020
  • Post category:News

On July 1st a slew of new laws took effect in NM, 90 days after the Governor signed off on them following the end of the regular legislative session. The most notable new change in this grouping of legislation is the creation of the Early Childhood Education and Care Department. Other key pieces of legislation going into effect include increased penalties for felons in possession of a firearm; new tax deductions for medical equipment purchases; tax exemptions for the hotel and hospitality industry; and a controversial collective bargaining bill that supporters said is meant to make labor agreements between unions and employers more consistent.

Additionally an update to the state’s public pension system will go into action that increases contributions from employers and employees. The full range of changes to the state pension system will be implemented by July 1st 2022. Read the full list HERE