House Memorial 62 requests the Taxation and Revenue Department to convene a task force to conduct a comprehensive study on the centralization of tax collection, uniform classification of short-term rentals, and the broader economic impacts of these rentals on various sectors, including tourism and workforce development. The bill highlights the significant economic contributions of short-term rentals in New Mexico, which generate over one billion dollars and support numerous jobs, particularly in rural and high-tourism areas. It also addresses the challenges posed by inconsistent property tax classifications and the lack of administrative capacity in rural municipalities to collect taxes effectively, which can lead to revenue loss for essential local services.

The task force will explore several key areas, including the feasibility of centralized tax collection for local lodgers' tax and gross receipts tax related to short-term rentals, the development of a uniform classification framework, and the potential for enhanced funding for rural infrastructure and public services. The bill calls for a pause on any new property tax reclassifications of short-term rental properties until the study's findings are presented to legislative committees. The task force is expected to include representatives from various stakeholders and submit its recommendations by October 1, 2026.