SANTA FE, N.M. (KRQE) – Thursday, March 2, legislators are once again set to debate a wide range of topics. Among those are a bill to change which nonprofits are required to have annual audits and a bill to help more New Mexicans purchase e-bikes.
Nonprofit audits
Currently, New Mexico requires some nonprofit organizations to conduct yearly audits. In particular, nonprofit organizations whose main purpose is to help support a government agency have to undergo audits if they expend more than $250,000 per year.
Now, legislators are considering Senate Bill 240. Sponsored by Sen. Bill B. O’Neill (D-Abq.) and Rep. Art De La Cruz (D-Abq.), it would only require audits for government-supporting nonprofits that expend more than $750,000 per year.
In effect, the bill could let more charities go without yearly audits, according to an analysis by the Legislative Finance Committee. That means, of course, there may be less transparency of some nonprofits that support government operations.
E-bikes
Legislators will also consider a bill to increase access to electronically assisted bicycles, or e-bikes. Senate Bill 343, sponsored by a trio of Democratic legislators, would put $5 million towards rebates for e-bikes.
The bill would allow e-bike retailers to apply for a rebate of the price of a bike (up to $1,200) if the bike is sold to a low-income resident. To get the rebate, the bike sale has to include a helmet, and the rebates would only last until the $5 million fund is exhausted.
In case you missed it: ‘Magic mushrooms’
Recently, legislators moved forward with an idea to look into psilocybin for therapeutic use. House Bill 393, sponsored by a handful of Democratic legislators, would create an eight-person advisory group to study the feasibility of using mushrooms for treating mental health conditions.
Legislators have been discussing the idea for some time. And recently, legislators in the House Health and Human Services Committee voted to move the bill forward. For more info on the debate, check out this KRQE News 13 story.
