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SB 48·NM·senate

STATE FAIRGROUNDS DISTRICT BONDS

Signed into LawFiled Jan 21, 2026
Sponsor: Stewart, Mimi
Latest Action

Signed

Mar 6, 2026

Summary

The bill lets the State Fairgrounds District issue bonds worth no more than $92 million, secured by portions of the gross receipts tax and gaming tax distributions. The bonds are part of a larger $500 million borrowing authority and are intended to fund district projects. This provides a financing mechanism without creating new taxes.

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