NM HB248

Authorizes issuance of general obligation bonds totaling approximately $393 million for capital projects, to be submitted to voters at the November 2026 general election for approval

Allocates $21.58 million for senior citizen facility improvements across 60 projects statewide, including construction, equipment purchases, vehicle acquisitions, and parking lot improvements at senior centers in 25 counties

Provides $19.32 million for library acquisitions including $6 million each for non-tribal public libraries, academic libraries, and public school libraries, plus $1 million for tribal libraries statewide

Appropriates $352.23 million for higher education capital improvements, with major projects including $116 million for UNM School of Medicine, $55 million for NMSU multidisciplinary academic facility, and $40 million for NM Tech mineral science complex

Imposes an ad valorem property tax levy to pay bond principal and interest, with bonds maturing no later than 11 years after issuance and backed by the full faith and credit of the state