IPANM (March 11, 2026) – On the heels of the good news of the signage of HB80 on Monday, today Governor Michelle Lujan Grisham signed SB151 Omnibus Tax Package despite continued opposition from IPANM and the business community.
In fact, industry (including IPANM) lobbied not once, but twice in the past week alone (in addition to repeated stated opposition during the 2026 session) to urge the Governor to NOT sign SB151.
The bill signing is a loss for the the state and the business community, further making it less attractive to do business in New Mexico.
SB151 Omnibus Tax Package is a complex bill. The bill “decouples” the state from Trump’s Big Beautiful Bill corporate tax cut rates. A brief summary is available, but member companies will have varying impacts, and it will be up to those individual companies to further determine how this signed bill will impact them.
Further analysis of the impacts can be found at the Tax Foundation Summary and the New Mexico Tax Research Institute’s most recent newsletter, The Governor’s office puts her spin on the signing in this news release.
Governor Signs SB151; “DeCoupling” Tax Increase Forthcoming
