On April 2, 2009, New Mexico Governor Bill Richardson signed a bill into law that would—for the first time—set contribution limits for a broad range of candidates and political committees in New Mexico. Effective November 3, 2010, persons (including individuals) are limited to contributing the following amounts, with the primary and general elections each having their own separate limit:
- $2,300 to a candidate for non-statewide office per election;
- $5,000 to a candidate for statewide office per election; and
- $5,000 to a political committee per election.
Political committees are subject to a $5,000 per election limit, regardless of whether the recipient entity is a statewide candidate, non-statewide candidate or political committee. Certain volunteer expenses and the payment of a PAC's administrative and solicitation costs are exempt from these limits. The dollar limits will be adjusted for inflation after each general election.