House Memorial 52 requests the establishment of a work group by the Economic Development Department, the Tourism Department, and the Taxation and Revenue Department to study the economic impact, taxation, and regulatory framework of short-term rentals in New Mexico. The memorial highlights the significance of short-term rentals in the state's tourism economy and their role in providing necessary accommodations for traveling workers. It also addresses concerns regarding the reclassification of short-term rental properties as nonresidential for taxation purposes, which could have substantial economic implications for property owners.

The work group will consist of representatives from various state departments and associations, ensuring a collaborative approach to evaluating short-term rental policies. The study will focus on taxation policies, the effects of nonresidential property tax classifications, zoning and permitting regulations, and the development of a balanced regulatory framework. Additionally, the memorial requests that county assessors suspend any further reclassification of short-term rental properties until the study is completed, with findings and recommendations to be reported to legislative committees by December 1, 2025.