GAAR has been tracking the following bills and around 125 others.  There has been movement on many of the initiatives listed.  Sponsors and stakeholders are working through amendments to address problems and concerns.  Stay tuned for next week's update.

Changes to Tax Code Provisions

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.

Distributed Generation Consumer Protection

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

 **Update** 2/8/17 – Passed 8-0 House Business and Industry Committee, GAAR Supports

HOA Act

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.

**Update** 2/8/17 – No Hearing Scheduled as of this time, GAAR Opposes. Representative Youngblood will introduce a bill to cap fees with additional restrictions which GAAR will support

Home Inspector Licensing Act

**Update** 2/8/17 - No bills have been introduced at this time.

Defective Building Materials

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.

**Update** 2/8/17 – Bill is sitting in Senate Corporations & Transportation, Sponsor has no plans to hold a hearing at this time.

Real Estate Auctioneer License Exemptions

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

**Update** 2/8/17 – Some amendments have been presented to the sponsor and he is considering them. There are Realtors who support and some who oppose. Passed Senate Corporations and Transportation unanimous

Lodgers Tax (VRBO/AIRBNB)

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

Passed House Business and Industry Committee unanimous

Tax Lightening

No bills have been introduced at this time.

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