---
type: "Bill"
title: "LOAN FORGIVENESS MULTIPLIER ACT"
description: "LOAN FORGIVENESS MULTIPLIER ACT"
jurisdiction: "us/states/nm"
legislature: "New Mexico Legislature"
session: "2025"
identifier: "HB 69"
citation: "New Mexico HB 69 (2025)"
classification: ["bill"]
subjects: ["EDUCATION", "POST SECONDARY", "FINANCE", "PUBLIC"]
status: "enacted"
primary_sponsors: ["Garratt, Joy", "Jaramillo, Leo"]
version_count: 2
action_count: 10
vote_count: 2
first_action: "2025-01-09"
last_action: "2025-04-09"
source: "openstates"
source_identifier: "ocd-bill/af0d57b2-fe2b-4777-9c3b-04c6016e20ca"
source_url: "http://www.nmlegis.gov/Legislation/Legislation?chamber=H&legType=B&legNo=69&year=25"
source_hash: "c99eb837b87bf9bc7a6054096c56d09493ed089a9912e35df79a9fad1da1547e"
vintage: "2026-07-01"
source_snapshot: "https://data.openstates.org/daily/2026-07-01/public.pgdump"
retrieved_at: "2026-07-06"
confidence: "reported"
tags: ["legislation", "bill", "us-nm"]
---

# New Mexico HB 69 (2025) — LOAN FORGIVENESS MULTIPLIER ACT

## Version chain

The bill's text revisions, in order — the diff chain from filing to enrollment.

1. **Final Version** (committee substitute) — [source](http://www.nmlegis.gov/Sessions/25%20Regular/final/HB0069.PDF)
2. **introduced version** (committee substitute) — [source](http://www.nmlegis.gov/Sessions/25%20Regular/bills/house/HB0069.HTML)

## Votes

- house passage — **58–0** (pass) · lower
- senate passage — **40–0** (pass) · upper

## Sponsors

- Garratt, Joy — primary (person)
- Jaramillo, Leo — primary (person)

## Timeline

The legislative action history — every referral, reading, and vote.

- **2025-01-09** Sent to House Pre-file `introduction, referral-committee`
- **2025-02-03** DO PASS committee report adopted `committee-passage-favorable`
- **2025-01-23** Sent to House Government, Elections and Indian Affairs Committee & House Education Committee `introduction, referral-committee`
- **2025-02-19** DO PASS committee report adopted `committee-passage-favorable`
- **2025-02-26** passed House `passage`
- **2025-03-06** DO PASS committee report adopted `committee-passage-favorable`
- **2025-02-26** Sent to Senate Education Committee & Senate Finance Committee `introduction, referral-committee`
- **2025-03-03** DO PASS committee report adopted `committee-passage-favorable`
- **2025-04-09** Signed `executive-signature`
- **2025-03-20** passed Senate `passage`

## Source

OpenStates / OpenCivicData bulk snapshot [2026-07-01](https://data.openstates.org/daily/2026-07-01/public.pgdump); origin `ocd-bill/af0d57b2-fe2b-4777-9c3b-04c6016e20ca`. Confidence: reported (aggregated from official New Mexico legislature records).