Senate committee OKs sales tax deductions for affordable housing construction

By: Patrick Lohmann

Outlets: Source New Mexico

Published: February 13, 2026

Words: 571

Last Updated: 2 weeks, 6 days ago

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The Senate Finance Committee on Friday advanced a tax package that allows construction companies to deduct gross receipts tax for labor and materials on multi-family, affordable housing complexes, one of the major housing policies the Legislature is considering this session.

The deductions, estimated to cost state and local governments more than $10 million annually, are intended to make new construction financially feasible in a state that lacks approximately 32,000 affordable housing …

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