May 27, 2017
5/25/17 UPDATE: Tax Reform Bill - HB 8 - was tabled in House Labor & Economic Development Committee this morning on a 6 to 5 vote after 2 1/2 hours of debate.
As the Legislature convened today at noon for a Special Session, there are two main considerations: tax reform and the state budget.
Both are critical and interdependent. As reported this morning by the Santa Fe Reporter, tax reform is unlikely to be addressed in this session. The current proposal, drafted by Representative Jason Harper (R-Rio Rancho, is very complex and has some legislators uncomfortable with the turnaround desired for a piece of legislation that could have many unintended consequences.
We anticipate the tax reform issue to be studied in depth over the coming months and to be addressed in the thirty day Legislative Session in January.
Please know that we are working closely with our community partners at the Santa Fe Community Foundation, Albuquerque Community Foundation, New Mexico Association of Grantmakers, United Way of Central New Mexico, New Mexico Community Foundation and Think New Mexico to stay informed and connected to the issue. We will keep you updated.
You can get more information and read coverage here:
NM Legislature
Santa Fe New Mexican: 5/24/17; 5/26/17
Albuquerque Journal: 5/16/17; 5/24/17
Thank you for all that you do in our communities.
