The bill amends Section 30-16-8 of the New Mexico Statutes concerning embezzlement by allowing for the aggregation of multiple incidents of embezzlement over a consecutive twelve-month period to determine the applicable penalty. The bill outlines specific penalties based on the value of the embezzled property, categorizing offenses into petty misdemeanors, misdemeanors, and felonies, depending on the value involved. The thresholds for these categories are set at $250 or less for petty misdemeanors, between $250 and $500 for misdemeanors, between $500 and $2,500 for fourth-degree felonies, between $2,500 and $20,000 for third-degree felonies, and over $20,000 for second-degree felonies.

The effective date for the provisions of this act is set for July 1, 2025. This change aims to provide a clearer framework for prosecuting embezzlement cases by considering the total value of embezzled items over a specified time frame, potentially leading to more appropriate penalties for offenders based on their cumulative actions.

Statutes affected:
introduced version: 30-16-8
Final Version: 30-16-8