Bill > HB152

This bill requires the development of a tax expenditure budget and a dedicated revenue budget. The tax expenditure budget will report on tax deductions, credits, exemptions, and other provisions that reduce tax liability, including the approximate costs in foregone revenue, the purpose and statutory basis of each expenditure, and estimates of jobs created and businesses that qualified but failed to apply. The dedicated revenue budget will report on revenues dedicated to specific programs or purposes, including the beneficiaries, outcomes, and total collections and appropriations. The consensus revenue estimating group, comprising economists from various state agencies, is responsible for compiling these budgets and presenting them annually to the governor and legislative committees. The bill also requires state and local agencies to provide information necessary for the budgets.

Budget and Finance, Military Affairs and Security

https://www.nmlegis.gov/Legislation/Legislation?chamber=H&legtype=B&legno=152&year=17