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SB 394

Insurance Companies, Agents, Brokers, Policies - As introduced, authorizes a purchaser or borrower in a real property transaction to select the settlement agent to perform certain duties; authorizes the seller to retain a licensed attorney in this state to represent the seller's interests in such transaction; prohibits the designated settlement agent from collecting transaction-related fees from a represented seller without consent of the seller's attorney. - Amends TCA Title 56, Chapter 35 and Title 66.

114th Regular Session (2025-2026) Introduced by Paul Rose

Provides a one-time $1.5 million General Fund appropriation to UNM-Taos to prep and build an on-campus observatory for a donated telescope, covering partial costs.

Action deferred in Senate Judiciary Committee to 3/24/2026
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Bill Summary · SB 394

SB 394 — UNM‑Taos Observatory (Senate Bill 394)

Status: Action postponed indefinitely
Introduced: February 14, 2025
Subject: Education — Postsecondary

Main purpose

Appropriate state funding to the University of New Mexico–Taos branch campus to prepare, construct, equip, furnish, and landscape an on‑campus observatory to house a large donated public‑use telescope.

Key provisions

  • Appropriates $1,500,000 (one‑time) from the State General Fund to UNM‑Taos for the observatory project.
  • Funds are specified for preparation, construction, equipping, furnishing, and landscaping of the observatory facility.
  • Any unexpended or unencumbered balance remaining at the end of FY2029 shall revert to the General Fund.
  • The bill contains no separate effective date; under standard rules it would take effect 90 days after adjournment (the fiscal note cites June 20, 2025 as the likely effective date if enacted in the 2025 session).

Fiscal impact

  • Direct state cost: $1.5 million (nonrecurring appropriation).
  • The Legislative Finance Committee (LFC) fiscal note treats the amount as a one‑time General Fund expense and notes reversion language for unspent balances.
  • UNM‑Taos has reported a much larger total project estimate (~$13.5 million) to fully construct an observatory to house the donated telescope; Higher Education Department (HED) recommended $5.5 million but the LFC recommendation did not include additional funding beyond the $1.5M in this bill. Thus the appropriation, if enacted as written, would cover only a portion of the full facility cost.

Who would be affected

  • Primary beneficiary: UNM‑Taos branch campus (facility and program development).
  • Secondary beneficiaries: UNM‑Taos students, K–12/outreach audiences, residents and visitors in northern New Mexico who would use the public observatory, and ratepayers indirectly through state budget impacts.
  • State budget/general fund: one‑time reduction of $1.5M.

Procedural and timeline notes

  • Introduced Feb 14, 2025. Reported out of the Senate Education Committee without recommendation and referred to Finance (committee report recorded).
  • Fiscal Note prepared by the Legislative Finance Committee (LFC) documents the appropriation, reversion, and comparisons to project cost estimates.
  • Current legislative status (per bill information provided): action postponed indefinitely (no further action at this time).

Additional context / issues

  • UNM‑Taos has a large donated Dobsonian telescope (reported value ≈ $83,000). Project proponents present the observatory as an educational and public‑use asset; however, total facility cost estimates (~$13.5M) greatly exceed the appropriation in this bill.
  • If the bill remains in “postponed indefinitely” status, the appropriation does not proceed unless reintroduced or revived by legislative action.

Compiled from official sources — confirm details with the bill’s official record.

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