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Committee approves changes to CPA licensure pathways and exam timing
Summary
The committee unanimously recommended a Commerce & Economic Development substitute on HB296 to create alternative education pathways for CPA candidates, extend the exam completion window, and align out‑of‑state experience requirements; the committee voted 8-0 to advance the substitute.
House Bill 296 would add alternative educational pathways for CPA candidates, extend the period for passing all parts of the Uniform CPA Exam from 18 to 30 months, and ensure out‑of‑state CPA applicants meet the same education and experience requirements as New Mexico licensees, proponents told the committee.
Representatives of the New Mexico Society of CPAs and the Board of Public Accountancy said the changes aim to ease barriers to entry — particularly financial burdens created when education requirements changed — while maintaining professional standards. Laura Beltran Schmidt, a principal at an accounting firm, described the 150‑hour requirement added in prior legislation as creating a financial burden for students forced to take extra, non‑accounting coursework.
The committee substitute fixed a drafting issue that would have created inconsistent experience and education rules for out‑of‑state applicants and set the bill’s effective date to Jan. 1, 2026, at the board’s request. The substitute resulted from staff review and sponsor discussions with regulators.
Supporters including the New Mexico Society of CPAs and members of the Board of Public Accountancy urged passage to bolster the state’s CPA pipeline while protecting public interest. The committee recorded an 8‑0 vote in favor of the substitute and advanced the bill.
