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The INFORM Bill is a campaign finance disclosure bill proposed for New Mexico’s 2027 legislative session by the League of Women Voters of New Mexico. It traces election-ad money back to its True Source, so reports and ads show voters who really paid. It builds on recommendations of the New Mexico State Ethics Commission.
The Election Ad Problem in New Mexico
The Election Ad Problem in New Mexico
Election-ad money often passes through several groups before it is spent. Today’s reports name a group, not whose money it is.
A New Mexico example. In 2020 a group spent $264,193 on mailers about a constitutional amendment on the Public Regulation Commission. It reported its spending only after the State Ethics Commission demanded it, and under current law it never had to say who paid.
Money passed through. In 2021 the New Mexico State Ethics Commission settled a case in which $470,000 from one corporation passed through a nonprofit to fund election ads; the corporation became public only after the Commission sued.
Out-of-state money. In 2026 a federal super PAC funded by a single out-of-state organization paid for mailers in a New Mexico primary; its federal filing named no state and arrived six weeks after the election.
What the INFORM Bill Does
What the INFORM Bill Does
Names the True Source: traces money through each group so reports and ads say whose money it is.
Labels the ads: “Paid for by,” then a “Top funders:” line naming the three largest true sources.
Lets donors say no: money a donor holds back can’t pay for ads.
Keeps hidden money out: money from an unknown source can’t be used.
Reaches PACs, super PACs and parties: money behind super PACs, and money from out-of-state groups, is traced to its True Source, in state and local races and on ballot questions. Traditional PACs, parties and caucus committees report as they do today, but money they receive from a company or other organization is traced too.
Makes hiding costly: penalties of one to three times the amount hidden, set by a court.
Counts paid posts as ads: a paid social media post, such as an influencer paid to post about a candidate or ballot question, carries the same “Paid for by” and “Top funders:” lines as any other ad.
One Rule for Everyone: Every spender is treated the same, whatever the party, cause or message.
Support Crosses Party Lines
Support Crosses Party Lines
85% of Republicans, 84% of independents and 88% of Democrats support legislation to end dark money, meaning spending by groups that do not disclose their donors (Brennan Center for Justice national poll, June 2026).
The New Mexico State Ethics Commission has asked the Legislature to require naming the significant sources behind independent spending. The INFORM Bill builds on that recommendation.
Common Questions
Common Questions
Does it replace current law?
No. It builds on current law.
Does it add a new agency?
No. Reports use the Secretary of State’s system, and complaints go to the State Ethics Commission.
Could it be used to target one side?
No. The same rule applies to every spender. Complaints go to the bipartisan State Ethics Commission, as today, and penalties are set by a court.
Does it limit speech?
No. It asks who paid for an ad, not what the ad says.
Is it constitutional?
It is built to be. The INFORM Bill builds on New Mexico’s 2019 disclosure law, which the Tenth Circuit upheld in 2025 and the U.S. Supreme Court left in place, and it keeps the thresholds, time limits and reach that court relied on. Arizona’s top court and the Ninth Circuit upheld a similar true-source law in 2026.
Does it burden charities and small nonprofits?
A group that buys no election ads files nothing. Nonpartisan voter guides, and issue ads that run outside election season, are not covered. Small gifts stay below the thresholds.
Does it affect my own campaign?
Candidates and their own donors see no change; candidate committees already report their donors.
What if a group cannot find the True Source?
That money cannot be used for election ads. A group that asked in good faith is not penalized for what it could not learn.
Can unions still spend?
Yes. Members’ dues up to a set amount are the union’s own money and need no tracing.
Has it been done elsewhere?
Yes. Arizona voters approved true-source tracing in 2022, and California, Colorado and Washington use the Bill’s main tools.
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