We're Watching HB206, Which Could Kill Jobs

By Rob Black of the New Mexico Association of Commerce and Industry

This year ACI is focused on supporting New Mexico’s Jobs Package in Santa Fe, creating more paychecks for New Mexican’s. However, we are also looking at the bills that create pink slips and kill jobs. One such bill was HB247, entitled “Increase Corporate Income Tax Rates”, and it aimed to do exactly that.

The bill would have increased rates, as well as create a new upper bracket rate that was 1.7 percent higher than the current rate. ACI, as well as many of our business allies, testified against the bill in committee and it was defeated by a strong bi-partisan vote of 8-1 in committee.

We are also closely watching HB206, the “Environmental Review Act”. It is sponsored by Gail Chasey (D, Bernalillo) and Mimi Stewart (D-Bernalillo) and if passed, will bring to halt new development in New Mexico.

The bill is based on bills that have been put forth in other states, most notably California. The bill would require almost all new developments in the state to undergo an extensive environmental assessment and review which would delay projects by months and even years, even if no environmental impact is actually found.
The costs of those reviews would fall on the applicants and could run into the hundreds of thousands of dollars. It would also slow down projects, possibly delaying important projects like low income housing for years.

ACI and local chambers around the state are strongly opposing HB206