New Mexico 2025 Regular Session

New Mexico House Bill HB289 Compare Versions

Only one version of the bill is available at this time.

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28	28	HOUSE BILL 289
29	29	57
30	30	TH LEGISLATURE
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33	33	STATE
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35	35	OF
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39	39	MEXICO
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42	42	FIRST SESSION
43	43	,
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45	45	2025
46	46	INTRODUCED BY
47	47	Patricia Roybal Caballero
48	48	AN ACT
49	49	RELATING TO GEOTHERMAL RESOURCES; AMENDING THE PROVISIONS OF
50	50	THE GEOTHERMAL PROJECTS DEVELOPMENT FUND; MAKING AN
51	51	APPROPRIATION.
52	52	BE IT ENACTED BY THE LEGISLATURE OF THE STATE OF NEW MEXICO:
53	53	SECTION 1. Section 71-9-12 NMSA 1978 (being Laws 2024,
54	54	Chapter 55, Section 4) is amended to read:
55	55	"71-9-12. GEOTHERMAL PROJECTS DEVELOPMENT FUND CREATED--
56	56	STUDY GRANTS--PROJECT GRANTS--ANNUAL REPORT.--
57	57	A. The "geothermal projects development fund" is
58	58	created in the state treasury. The fund consists of
59	59	appropriations, income from investment of the fund and any
60	60	other money distributed or otherwise allocated to the fund.
61	61	Balances in the fund at the end of any fiscal year shall not
62	62	revert to the general fund. The division shall administer the
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90	90	fund. Money in the fund is subject to appropriation by the
91	91	legislature.
92	92	B. Money in the geothermal projects development
93	93	fund may be used to make grants of up to two hundred fifty
94	94	thousand dollars ($250,000) for the purposes of studying the
95	95	costs and benefits of a proposed geothermal development project
96	96	as approved by the secretary of energy, minerals and natural
97	97	resources.
98	98	C. Money in the geothermal projects development
99	99	fund may be used to provide grants for financing a geothermal
100	100	development project approved by the secretary of energy,
101	101	minerals and natural resources.
102	102	D. Except as provided in Subsection E of this
103	103	section, money in the geothermal projects development fund may
104	104	be used pursuant to Subsections B and C of this section only
105	105	for grants to a political subdivision of the state, [or to ] a
106	106	state university or other entities that participate in a
107	107	competitive bidding process conducted in accordance with the
108	108	Procurement Code, for a geothermal development project.
109	109	E. Money in the geothermal projects development
110	110	fund may be used for grants to an Indian nation, tribe or
111	111	pueblo for the development of a geothermal development project
112	112	only if the grant application is approved by the secretary of
113	113	energy, minerals and natural resources.
114	114	F. Geothermal development projects approved for a
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143	143	grant by the secretary of energy, minerals and natural
144	144	resources under this section shall not be exempt from any
145	145	required permits or permissions under New Mexico or United
146	146	States law.
147	147	G. Money in the geothermal projects development
148	148	fund may be used for administrative and reimbursable costs
149	149	incurred by the energy, minerals and natural resources
150	150	department.
151	151	H. Disbursements from the geothermal projects
152	152	development fund shall be made by warrant of the secretary of
153	153	finance and administration pursuant to vouchers signed by the
154	154	secretary of energy, minerals and natural resources or the
155	155	secretary's authorized representative.
156	156	I. By December 1, 2024, and by December 1 of each
157	157	year thereafter, the secretary of energy, minerals and natural
158	158	resources shall provide a report to the governor, the
159	159	legislative finance committee and the library of the
160	160	legislative council service regarding:
161	161	(1) grants approved by the secretary pursuant
162	162	to Subsections B and C of this section;
163	163	(2) the status of studies funded in part by
164	164	grants made pursuant to Subsection B of this section;
165	165	(3) the status of projects funded in part by
166	166	grants made pursuant to Subsection C of this section;
167	167	(4) money used for administrative and
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196	196	reimbursable costs pursuant to Subsection G of this section;
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198	198	(5) the status of the geothermal projects
199	199	development fund."
200	200	SECTION 2. APPROPRIATION.--Twenty million dollars
201	201	($20,000,000) is appropriated from the general fund to the
202	202	geothermal projects development fund for expenditure in fiscal
203	203	year 2026 and subsequent fiscal years. Any unexpended or
204	204	unencumbered balance remaining at the end of a fiscal year
205	205	shall not revert to the general fund.
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