Nm Next Generation Act & Funds

Where it is in the process

Plain-English Summary

This bill, the "New Mexico Next Generation Act," creates two funds: the Next Generation Trust Fund and the Baby Bonds Fund. It aims to provide financial assistance for educational expenses or a down payment on a home in New Mexico for eligible individuals born in the state on or after July 1, 2026. The Department of Finance and Administration will manage the Baby Bonds Fund and create rules for the program, and money spent for beneficiaries will be exempt from state income tax.

No official summary on file for this bill · generated by Gemini 2.5 Flash from its full text

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