STATE BUDGET

New Mexico’s fiscal year begins on July 1 and ends on June 30. New Mexico enacts its annual budget during the regular legislative session. To view information about New Mexico’s state budget, click here.

STATE LEGISLATURE

The New Mexico Legislature convenes on the third Tuesday in January of each year. The Legislature holds 60- day sessions in odd-numbered years and 30-day sessions in even- numbered years.  A Senate term is four years, for the House it is two.  The state has 42 Senators and 70 Representatives.  New Mexico does not pay its legislators a base salary, only a per diem.  Bills do not carry over from year to year.

KEY RESOURCES

• New Mexico Legislature
• New Mexico Office of the Attorney General
• New Mexico Office of the Superintendent of Insurance
• New Mexico Governor
• Information on Healthcare Policy in New Mexico

2025 LEGISLATIVE SUMMARY

In 2025, New Mexico passed the Healthcare Consolidation Act (HB 586), requiring a review of proposed transactions that involve mergers, acquisitions or other actions that change control of a hospital or certain health care provider organizations. The state will approve transactions if it is determined that they will benefit the public by reducing costs, maintain or increase access to services, improve health outcomes, and will not cause anti-competitive effects.