New Mexico ballot measure · November 3, 2026
New Mexico Bond Question 3, explained
Higher education, special schools and tribal schools bonds. A ballot measure is a yes-or-no question put directly to voters — no candidate is involved, and the wording on the ballot is the wording that becomes law. This page shows that wording first, then what it actually changes.
The official wordingWhat appears on the ballot. Everything below explains it.
The 2026 Capital Projects General Obligation Bond Act authorizes the issuance and sale of higher education, special schools and tribal schools capital improvement and acquisition bonds. Shall the state be authorized to issue general obligation bonds in an amount not to exceed three hundred fifty-two million two hundred twenty-five thousand three hundred seventy-nine dollars ($352,225,379) to make capital expenditures for certain higher education, special schools and tribal schools capital improvements and acquisitions and provide for a general property tax imposition and levy for the payment of principal of, interest on and expenses incurred in connection with the issuance of the bonds and the collection of the tax as permitted by law?
What it actually means
This is the largest of the three bond questions: up to $352.2 million to build and renovate buildings and buy equipment at New Mexico's public universities and colleges, its special schools — the School for the Deaf and the School for the Blind and Visually Impaired — and tribal schools. The individual projects at each campus are listed in House Bill 248. Like the others, it is a general obligation bond repaid from a statewide property tax levy.
If you vote YES
- The state may issue up to $352,225,379 in general obligation bonds for capital improvements and acquisitions at higher education institutions, special schools and tribal schools.
- The money funds the campus-by-campus projects itemised in House Bill 248 — new buildings, renovations, infrastructure and equipment.
- A statewide property tax levy pays the principal, interest and issuance costs.
- This question is decided on its own; the senior citizen and library bonds are separate.
If you vote NO
- The bonds are not issued and the campus projects listed in House Bill 248 are not funded from this source.
- No property tax levy is imposed for these particular bonds.
- Institutions would have to defer the projects, fund them from their own reserves or revenue bonds, or wait for the next state bond cycle, which in New Mexico is every two years.
- The other two bond questions are unaffected.
The numbers that matter
- Maximum authorised
- $352,225,379
- Repayment source
- Statewide general property tax levy
- Combined total of all three bond questions
- $393,131,780
- Legislative vote
- House 65-0, Senate 38-0
Ballot question as set out in House Bill 248, the 2026 Capital Projects General Obligation Bond Act
Stated in the ballot question itself
Sum of the three amounts authorised by House Bill 248
New Mexico Legislature, House Bill 248 (2026)
What each side says0 for, 0 against — quoted, not summarised
Why supporters say YES
We found none published in the sources reviewed.
Why opponents say NO
We found none published in the sources reviewed.
What's genuinely uncertain
- No argument is shown here for either side. House Bill 248 passed the House 65-0 and the Senate 38-0, and no campaign committee registered or was located either supporting or opposing the bond questions. Rather than print a case for the bonds with nothing against them, this page shows neither.
- The effect on an individual property tax bill was not stated in any official document we could locate.
- Early reporting, including Ballotpedia's in March 2026, described this question as $230 million; the amount in the enrolled bill and on the ballot is $352,225,379. The figure here is from the ballot question itself.
- The specific projects and amounts sit in the bond act rather than in the ballot question, so the wording a voter reads does not say which campus gets what.
The bottom line
Whether to borrow $352 million, repaid by a statewide property tax levy, for buildings and equipment at New Mexico's colleges, special schools and tribal schools — by far the largest commitment on this year's ballot.
One neutral sentence describing the tradeoff — not a recommendation.
Sources (3)The numbers in the text above link here
- 12026 General Election: Statewide Constitutional Amendments and General Obligation Bonds — New Mexico Secretary of State — sos.nm.gov
- 2House Bill 248, 2026 Capital Projects General Obligation Bond Act (final version) — New Mexico Legislature — nmlegis.gov
- 3New Mexico to decide three bond measures in 2026 — Ballotpedia News — news.ballotpedia.org
Checking it against the official text
The New Mexico Secretary of State publishes the certified measures and, in most states, an official voter guide with fiscal notes. That is the authoritative version. Everything here is an explanation of it, not a substitute for it.
Confirm this with the official source
Your ballot is determined by your election authority, not by us. Verify your registration, precinct, and sample ballot at New Mexico Secretary of State.
Other measures on the New Mexico ballot
- Constitutional Amendment 1 — End the governor's pocket veto and require veto explanations
- Constitutional Amendment 2 — Allow school elections to be held with partisan elections
- Constitutional Amendment 3 — Nominating committees for university boards of regents
- Constitutional Amendment 4 — Salaries for state legislators
- Bond Question 1 — Senior citizen facility bonds
- Bond Question 2 — Library acquisition bonds
Candidates on the same ballot
- U.S. Senate election in New Mexico
- New Mexico governor's race
- New Mexico's 1st congressional district
- New Mexico's 2nd congressional district
- New Mexico's 3rd congressional district