With a little over three weeks to go in the 2017 Regular Legislative Session lawmakers are still at odds over the state budget.  1,356 measures have been introduced and are slowly making their way through the process.  Normally just over ten percent of the bills introduced will find their way to the 4th floor for consideration by the executive.

Representative Monica Youngblood’s HB374, capping the fee for disclosure documents, was given a thorough hearing and received a do pass in House Local Government, Elections, Land Grants & Cultural Affairs.  It will now move to House Judiciary Committee.  Senator Mimi Stewart’s SB244 was tabled in Senate Public Affairs Committee.  GAAR is opposed to several provisions in the bill, mainly exempting HOA’s from license law (acting as property managers) and the $400 cap indexed to CPI.

The state budget is still a source of major concern to all as the current version calls for massive tax increases to close the $123 million shortfall which the Governor says she will not support.  There is only one option from there and that would be further cuts.

Thank you to the many Realtors who have come to testify on several bills, namely the HOA bills.  Testimony of real life stories as told by a practicing Realtor is very effective in helping lawmakers understand the issue so please consider coming to the Roundhouse to lend a hand if you can. 

Changes to Tax Code Provisions – SB343

SB343 Introduced by Sen. Ron Griggs is an omnibus bill to overhaul the tax code in NM. We will watch this one closely as it does have a provision for a Real Estate Transfer Tax.

Updates

Distributed Generation Consumer Protection – HB199/SB210

HB199 introduced by Representative Debbie Rodella - PROVIDING MINIMUM DISCLOSURES FOR THE LEASE OR SALE OF A DISTRIBUTED ENERGY GENERATION SYSTEM; (Rooftop Solar)

Updates

HOA Act – SB244/HB374

Senator Mimi Stewart introduced SB 244 Homeowner Association Dispute Resolution.  SB244 addresses some governance issues but also tries to “fix” the disclosure document pricing issue.  Some HOA management firms have been charging exceptionally high rates for the service while HOA members have nowhere else to go.  SB244 caps the rate at $400 and indexes the fee to inflation so it will always be going up.  We will be watching this bill and offering amendments to make sure it works for consumers.

Updates       

Home Inspector Licensing Act– HB362

Updates

Defective Building Materials – SB14

SB14 introduced by Senator Bill Payne of Albuquerque would change the statute of repose to essentially say that a builder would be liable indefinitely if he “knew or should have known” of the use of defective materials. (Kitec-realted bill)

Updates

Real Estate Auctioneer License Exemptions – SB125

SB125 introduced by Senator Pat Woods of Broadview, NM will exempt an auctioneer working under the control of a licensee from the licensure requirements.

Updates

Lodgers Tax (VRBO/AIRBNB) – HB266

HB263 would provide a mechanism to collect tax on short term rentals like AIRBNB and VRBO

Updates

QB License Requirements – SB387

SB 387 would change the requirement that brokers be licensed for two years before qualifying to become a QB to four years. Also allows the commission to develop additional education requirements.

Updates          

PACE Loans- SB215

SB215 CHANGING THE PRIORITY OF LIENS UNDER THE ACT.

Updates 

Rural Building Codes

HB205 will make it easier for small businesses to occupy vacant buildings in rural areas.

Updates 

Protection Against Financial Exploitation – HB146

This bill makes it a crime to exploit a vulnerable adult by misappropriating, misusing, transferring, or selling their property.

Updates

Tax Incentives to Attract Retirees to New Mexico – SJM26

A Joint Memorial requesting the Economic Development Dept. and the Taxation and Revenue Dept. to study the costs and benefits of various options for tax relief designed to attract retirees from other states to settle in New Mexico.

Updates

Construction Industries Private Inspectors – SB352

RELATING TO CONSTRUCTION INDUSTRIES; LICENSING PRIVATE INSPECTION COMPANIES; ALLOWING COMPANIES TO PROVIDE PRIVATE INSPECTORS FOR GOVERNMENTS AND FOR CONTRACTORS AND HOMEOWNERS

Updates

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RANM and GAAR are tracking approximately 150 bills at this time.  We will do our best to keep you up to date on bills that affect YOUR business.  You can watch them too at https://www.nmlegis.gov/Legislation/Bill_Finder