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Read. Follow. Verify.New Mexico Senate Bill 145 Restructures State and Local Government Audit Requirements and Thresholds
Last action · February 13, 2026: Sent to HJC - Referrals: HJC/HAFCSponsors: Cynthia Borrego and 3 others
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What This Bill Proposed
Senate Bill 145 restructures New Mexico's audit requirements by updating local public body revenue thresholds for financial reporting, mandating s starting in 2028, and appropriating $50,000 to the state auditor for computer software.
Local public bodies and state agencies face altered financial reporting obligations and different auditing thresholds, while the office of the state auditor receives dedicated funding to implement statewide s.
- The Audit Act governs financial examinations, reporting requirements, and auditing standards for public entities throughout New Mexico. context
- State of New Mexico legislative sessions convene annually, with second sessions focusing heavily on budget adjustments and statutory refinements. context
Who It Would Have Affected
Groups the bill's text would have affected, as described in the record. Being affected is not a position for or against it.
Local public bodies
Local public bodies are subject to revised revenue thresholds and reporting requirements that determine whether they must undergo full annual audits or submit specific financial reports.
State agencies
State agencies must comply with updated audit reporting deadlines, deposit account lists, and upcoming federal single audit mandates.
Office of the State Auditor
The office receives a $50,000 appropriation for software, administers the nonreverting audit fund, and oversees compliance across state and local entities.
Key Facts
You don't have to trust us. Each fact below is taken straight from the official document - click any one to see the exact passage, highlighted in the original.
Frequently Asked Questions
What is the new revenue threshold for local public bodies to be exempt from routine financial reporting?
What funding is provided for audit software in the bill?
What else do you want to know?
News Coverage
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Votes, people, money & the original sourceWhere This Stands
This bill did not become law - Died at adjournment · passed the Senate · in House committee.
Procedural history
6 actions- Feb 13, 2026HouseCommitteeSent to HJC - Referrals: HJC/HAFC
- Feb 13, 2026SenateFloorPassed in the Senate - Y:32 N:2
- Feb 11, 2026SenateSFC: Reported by committee with Do Pass recommendation with amendment(s)
- Feb 3, 2026SenateSHPAC: Reported by committee with Do Pass recommendation
- Jan 29, 2026SenateSCC: Reported by committee to fall within the purview of a 30 day session
- Jan 26, 2026SenateCommitteeSent to SCC - Referrals: SCC/SHPAC/SFC
Version history
Only one version on file - nothing to compare yet. As later stages (committee substitute, engrossed, enrolled) are captured, the redline appears here.
View official text →Lobbying Activity
No state lobbying filings in our records match this bill. Federal lobbying reports (LDA) cover Congress, so they are not listed on state bills.
Full breakdown
Who this bill affects and the strongest case for and against it, written only from the bill’s own text.
Sponsors
Discoveries
Patterns POLISCOPE noticed across the record. These are observations to investigate, not conclusions.
Shift in Local Audit Thresholds
The bill replaces multiple intermediate revenue brackets for local public bodies with a simplified exemption threshold under $100,000 and a mid-tier bracket up to $1,000,000.
Connected Entities
Sources
www.nmlegis.gov
Analysis Score
0–100- Significance20Lowered because this bill did not pass (its text scored 65)
- Controversy15Intensity of disagreement among stakeholders
- Entertainment5Compellingness for a non-policy-wonk reader
- Buzz20Current news / social attention level
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