Legislative News
REALTORS® advocate for policy that strengthens the ability of the public to own, buy, and sell real property. 

January 26, 2023

Hello GAAR Family,

The second week of the 2023 New Mexico Legislative Session is underway, and GAAR is committed to keeping you up to date on legislation that impacts our industry, our communities, and our state.

Today is REALTOR® Day at the Roundhouse, a time when REALTORS® from around the state gather to make their voices heard. New Mexico REALTORS® are 7,500 small business owners who make a significant economic impact with every home bought or sold.
 
As we continue to bring you updates, I want to share the process by which we arrive at the list of bills being monitored during a legislative session. NMAR’s Legislative Committee is comprised of REALTORS® statewide and meets periodically throughout the session to review bills deemed of interest as they relate to our industry. After review, the bills are given one of three designations: Support, Oppose, or Monitor. 
 
In the upcoming weeks, we will highlight several of the bills we are monitoring. You can click on the bill number, and find a synopsis of the bill, committee referrals, and any amendments or reports on the bill as they occur. Additionally, you can click on the committee links to see each committee’s agenda for their next hearing.

• HB26 – NOTICE FOR ABANDONED PROPERTY LISTS
  • Referred to House Government, Elections & Indian Affairs Committee and House Judiciary Committee.
• SB66 – GRT DISTRIBUTION TO CERTAIN ENTITIES
  Establishes equitable gross receipts tax distribution that would have been imposed on real property, if the property was not owned by the state.
  • Referred to Senate Tax, Business and Transportation Committee and Senate Finance Committee.
• SB38 – TAX CODE CHANGES 
  • Referred to Senate Tax, Business and Transportation Committee and Senate Finance Committee.
• SB46 – WRONGFUL FORECLOSURE PROTECTION ACT
  • Referred to Senate Tax, Business and Transportation Committee and Senate Judiciary Committee.
• SB99 – RENT CONTROL PROHIBITIONS
  Proposed legislation would repeal rent control prohibition. 
  • Referred to Senate Health and Public Affairs Committee, where it is on the calendar for discussion on Friday, January 27 at 1:30 pm or 1/2 hour after the floor session. The committee will take place in Room 311. If approved, it will proceed to the Senate Judiciary Committee. Click to view the Live Webcast from the Roundhouse.

If you need additional information or have questions, please send me an email at Kent@GAAR.com

Best,
 
Kent Cravens, RCE, CMLX2
Chief Executive Officer / Government Affairs Director
Greater Albuquerque Association of REALTORS®

Celebrate The Land of Enchantment

We love New Mexico and want to encourage you to celebrate this incredible place we all live, work, and play—the Land of Enchantment. While our legislative updates serve to inform, I wanted to share the New Mexico Blue Book, a publication available at the Secretary of State's website.  
 
The New Mexico Blue Book has a wealth of information including interesting facts and history about our state. In the interim, we’ll share some unique facts about New Mexico, for example, our state song—“O, Fair New Mexico.” Written by Elizabeth Garret—daughter of Sheriff Pat Garrett—the song was adopted as the state song in 1917 and includes lyrics that are still relevant today:

O, Fair New Mexico,
We love, we love you so,
Our hearts with pride o’reflow,
No matter where we go.
O, Fair New Mexico,
We love, we love you so,
The grandest state to know
New Mexico.

Listen to the full song here, and join us in celebrating New Mexico’s vibrant past and prosperous future.