The civic record
Read. Follow. Verify.New Mexico creates workforce education tax credit for corporate donations to schools
Last action · February 5, 2026: SCC: Reported by committee to fall within the purview of a 30 day sessionSponsors: George Muñoz and 1 other
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What This Bill Proposed
New Mexico creates a corporate income equal to 75% of donations made by taxpayers to public post-secondary institutions or school districts for workforce education programs, capped at $750,000 per taxpayer and $5,000,000 annually, applicable for taxable years beginning on or after January 1, 2026, and prior to January 1, 2029.
Corporations making monetary donations to fund vocational and career training programs at public schools or colleges can offset up to $750,000 of their corporate income tax liability annually, subject to a statewide annual cap of $5 million.
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.
Taxpayers subject to the Corporate Income and Franchise Tax Act
Taxpayers who make qualifying donations to workforce education programs become eligible to claim a 75 percent tax credit against their corporate income tax liability.
Public post-secondary educational institutions and school districts
Educational entities can receive monetary donations from taxpayers specifically designated to fund vocational training, career, and technical education programs.
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 maximum tax credit a single taxpayer can claim in a year?
Can the tax credit certificate be transferred to another company?
What is the statewide annual cap for these tax credits?
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 · in Senate committee.
Procedural history
2 actions- Feb 5, 2026SenateSCC: Reported by committee to fall within the purview of a 30 day session
- Feb 4, 2026SenateCommitteeSent to SCC - Referrals: SCC/STBTC/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
Connected Entities
Sources
www.nmlegis.gov
Analysis Score
0–100- Significance20Lowered because this bill did not pass (its text scored 60)
- Controversy20Intensity of disagreement among stakeholders
- Entertainment5Compellingness for a non-policy-wonk reader
- Buzz25Current news / social attention level
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