New Mexico 2025 Regular Session

New Mexico Senate Bill SB233 Compare Versions

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

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28	28	SENATE BILL 233
29	29	57
30	30	TH LEGISLATURE
31	31	-
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33	33	STATE
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35	35	OF
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37	37	NEW
38	38
39	39	MEXICO
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41	41	-
42	42	FIRST SESSION
43	43	,
44	44
45	45	2025
46	46	INTRODUCED BY
47	47	Antonio Maestas
48	48	AN ACT
49	49	RELATING TO CONSUMER PROTECTION; MAKING FAILURE TO PROVIDE THE
50	50	WRITTEN STATEMENT REQUIRED BY THE DISTRIBUTED GENERATION
51	51	DISCLOSURE ACT AN UNFAIR OR DECEPTIVE TRADE PRACTICE.
52	52	BE IT ENACTED BY THE LEGISLATURE OF THE STATE OF NEW MEXICO:
53	53	SECTION 1. Section 57-31-3 NMSA 1978 (being Laws 2017,
54	54	Chapter 102, Section 3) is amended to read:
55	55	"57-31-3. DISTRIBUTED ENERGY GENERATION SYSTEM
56	56	DISCLOSURES--EXCEPTION.--
57	57	A. Beginning thirty days after publication in the
58	58	New Mexico register of the form disclosure statements issued by
59	59	the attorney general pursuant to Section [5 of the Distributed
60	60	Generation Disclosure Act ] 57-31-5 NMSA 1978, any agreement
61	61	governing the financing, sale or lease of a distributed energy
62	62	generation system, or the sale of power to a power purchaser,
63	63	.229870.1 underscored material = new
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90	90	shall include a written statement with font no smaller than ten
91	91	points and no more than four pages, unless a font larger than
92	92	ten points is used, separate from the agreement and separately
93	93	signed by the buyer or lessee, that includes the following
94	94	provisions:
95	95	(1) the name, address, telephone number and
96	96	email address of the buyer or lessee;
97	97	(2) the name, address, telephone number, email
98	98	address and valid state contractor license number of the person
99	99	responsible for installing the distributed energy generation
100	100	system;
101	101	(3) the name, address, telephone number, email
102	102	address and a valid state contractor license number of the
103	103	distributed energy generation system maintenance provider, if
104	104	different from the person responsible for installing the
105	105	system;
106	106	(4) a provision notifying the buyer or lessee
107	107	of the right to rescind the agreement for a period ending not
108	108	less than three business days after the agreement is signed;
109	109	(5) a description of the distributed energy
110	110	generation system design assumptions, including system size,
111	111	estimated first-year production and estimated annual system
112	112	production decreases, including the overall percentage
113	113	degradation over the life of the distributed energy generation
114	114	system;
115	115	.229870.1
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143	143	(6) a description of any performance
144	144	guarantees that a seller or marketer may include in an
145	145	agreement;
146	146	(7) the purchase price of the distributed
147	147	energy generation system, total projected lease or power
148	148	purchase payments;
149	149	(8) a description of any one-time or recurring
150	150	fees, including the circumstances triggering any late fees,
151	151	estimated system removal fees, maintenance fees, Uniform
152	152	Commercial Code notice removal and refiling fees, internet
153	153	connection fees and automated [clearing house ] clearing-house
154	154	fees;
155	155	(9) if the seller is financing or leasing the
156	156	distributed energy generation system, the total amount
157	157	financed, the total number of payments, the payment frequency,
158	158	the amount of the payment expressed in dollars, the payment due
159	159	dates and the applicable annual percentage rate; except that in
160	160	the case of financing arrangements subject to state or federal
161	161	lending disclosure requirements, disclosure of the annual
162	162	percentage rate shall be made in accordance with the applicable
163	163	state or federal lending disclosure requirements;
164	164	(10) if a seller or marketer uses a tax
165	165	incentive or rebate in determining the price, a provision
166	166	identifying each state and federal tax incentive or rebate
167	167	used;
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196	196	(11) a description of the ownership and
197	197	transferability of any tax credits, rebates, incentives or
198	198	renewable energy certificates in connection with the
199	199	distributed energy generation system;
200	200	(12) a list of the following tax obligations
201	201	that the buyer may be required to pay or incur as a result of
202	202	the contract's provisions, including:
203	203	(a) the cost of any business personal
204	204	property taxes assessed on the distributed energy generation
205	205	system in the event of a power purchase agreement or lease;
206	206	(b) gross receipts taxes for any
207	207	equipment purchased and services rendered;
208	208	(c) obligations of the power purchaser
209	209	or lessee to transfer tax credits or tax incentives of the
210	210	distributed energy generation system to any other person; and
211	211	(d) in the case of a commercial
212	212	installation, a change in assessed property taxes in the event
213	213	of a purchase of a distributed energy generation system;
214	214	(13) a disclosure regarding whether the
215	215	warranty or maintenance obligations related to the distributed
216	216	energy generation system may be sold or transferred to a third
217	217	party;
218	218	(14) a disclosure regarding any restrictions
219	219	pursuant to the agreement on the buyer's or lessee's ability to
220	220	modify or transfer ownership of the distributed energy
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249	249	generation system, including whether any modification or
250	250	transfer is subject to review or approval by a third party and
251	251	the name, mailing address and telephone number of the entity
252	252	responsible for approving the modification or transfer, if
253	253	known to the seller or marketer at the time the agreement is
254	254	made;
255	255	(15) a description of all options available to
256	256	the buyer or lessee in connection with the continuation,
257	257	termination or transfer of the agreement between the buyer or
258	258	lessee and the seller or marketer in the event of the transfer
259	259	of the real property to which the distributed energy generation
260	260	system is affixed;
261	261	(16) a description of the assumptions used for
262	262	any savings estimates that were provided to the buyer or
263	263	lessee;
264	264	(17) a disclosure that states: "Actual
265	265	utility rates may go up or down and actual savings may vary.
266	266	For further information regarding rates, you may contact your
267	267	local utility or the public regulation commission. Tax and
268	268	other state and federal incentives are subject to change.";
269	269	(18) a disclosure notifying the buyer or the
270	270	lessee of transferability of any warranty obligations to
271	271	subsequent buyers or lessees; and
272	272	(19) a disclosure notifying the buyer or
273	273	lessee that interconnection requirements, including time lines,
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302	302	are established by rules of the public regulation commission
303	303	and may be obtained from either the public regulation
304	304	commission or the local utility.
305	305	B. The seller or marketer shall provide the buyer
306	306	or lessee with proof that, within thirty days of completion of
307	307	installation or modification:
308	308	(1) all permits required for the installation
309	309	or any modification of the distributed energy generation system
310	310	were obtained prior to installation; and
311	311	(2) installation or any modification of the
312	312	distributed energy generation system received the approval of
313	313	an inspector authorized by the governmental authority having
314	314	jurisdiction over the permitting and enforcement authority.
315	315	C. In the event that a seller or marketer causes a
316	316	financing statement to be filed pursuant to the Uniform
317	317	Commercial Code - Secured Transactions, the seller or marketer,
318	318	or any successor in interest to the seller or marketer, shall
319	319	provide to the buyer or lessee a copy of the filed financing
320	320	statement within thirty calendar days of the filing.
321	321	D. If a promotional document or sales presentation
322	322	related to a distributed energy generation system states that
323	323	the system will result in certain financial savings for the
324	324	buyer or lessee, the document or sales presentation shall
325	325	provide the assumptions and calculations used to derive those
326	326	savings.
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355	355	E. If a promotional document or sales presentation
356	356	related to a distributed energy generation system states that
357	357	the system will result in certain energy savings in terms of
358	358	production, the document or sales presentation shall provide
359	359	the assumptions and calculations used to derive those energy
360	360	savings and any comparative estimates. If historical
361	361	information is used, it shall be accompanied by the following
362	362	statement: "Historical data are not necessarily representative
363	363	of future results.".
364	364	F. A failure to provide the written statement
365	365	required by this section constitutes an unfair or deceptive
366	366	trade practice pursuant to the Unfair Practices Act. "
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368	368	.229870.1