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NM SB118
Bill
Status
Introduced
1/23/2026
Primary Sponsor
Harold Pope
Click for details
AI Summary
- Increases the price limit for tax-exempt clothing and footwear during the back-to-school tax holiday from $100 to $150 (50% increase)
- Raises the price limit for tax-exempt computers from $1,000 to $1,500, and computer accessories (monitors, speakers, printers, keyboards, microphones, mice) from $500 to $750
- Tax holiday applies during a three-day period from 12:01 a.m. on the last Friday in July through midnight on Sunday
- Excludes athletic/protective footwear and accessories such as jewelry, handbags, luggage, watches, and umbrellas from the clothing deduction
- Effective date is July 1, 2026
Legislative Description
Back-to-school Tax Holiday Price Limits
Last Action
SCC: Reported by committee to fall within the purview of a 30 day session
1/26/2026
Committee Referrals
Committees1/23/2026
Full Bill Text
No bill text available