Will New Mexico expand its FAIR Plan?

Before Aug 1, 2027 If legislation expressly setting or requiring dwelling coverage of at least $500,000 under the FAIR Plan Act or a successor state residual property insurance mechanism, or appropriating at least $10 million in state funds as a premium subsidy or catastrophe backstop for residential wildfire insurance is enacted in New Mexico before Aug 1, 2027, then the market resolves to Yes. Enactment requires completion of all constitutional and legal requirements for the legislation to be