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Committee hears bill to exempt campus dormitories built via public-private partnerships from property tax
Summary
Senate Bill 112 would amend state property tax statute to exempt student residences built on university land through public-private partnerships, sponsors say it could keep on-campus housing costs lower for students.
Senator Wirth, the bill sponsor, told the House Commerce & Economic Development Committee that Senate Bill 112 would amend the property tax statute to exempt student dormitories built on university-owned land through public-private partnerships. "SB 112 aims to exempt property taxes on student residences built on university owned land through public private partnerships," the sponsor said, adding the change would promote lower on-campus housing costs for students and encourage development of additional student housing.
University representatives and counsel joined the sponsor to answer questions. David Campbell, an expert for the bill, and university officials including Dan Garcia (UNM vice president for enrollment) and Megan Chibanga (UNM residence life director) described the policy rationale: keeping the assessment off private partners that finance dormitories on university land could prevent additional annual costs from flowing through as higher rent for students.
Committee members raised questions about scope and safeguards. Representatives asked whether the exemption would apply only to constitutionally recognized universities or more broadly; presenters said the bill is written to apply to the five constitutionally recognized universities but would be generally applicable within those limits. Law and counsel explained the statute addresses "fractional interest" and the constitutional standard for public, educational uses.
Several committee members pressed for stronger guarantees that any tax savings would be passed through to students as lower rent. Megan Chibanga, UNM's residence life director, said the university could use lease terms to require pass-through in future P3 agreements but acknowledged the bill does not itself include an express statutory pass‑through requirement.
No formal committee vote on SB112 was recorded in the transcript segment provided; the item drew extended questioning and lawmakers indicated they might seek additional review or referral to Taxation for further consideration.
