New Mexico Governor Signs Law Increasing Oil and Gas Tax Fund Distribution

The New Mexico Governor signed a law increasing the percentage of Oil and Gas Conservation Tax receipts distributed to the Oil and Gas Reclamation Fund and expands the fund’s authorized uses to include statewide energy education. The implementation schedule includes percentages ranging from 50 to 100 percent between 2027 and 2029. The law takes effect on July 1, 2027. [H.B. 80, enacted 03/09/26]

This story was produced by Bloomberg Tax Automation, and edited by Bloomberg Tax staff.