NM
New Mexico Senate Bill SB48

New Mexico 2025 Regular Session

New Mexico Senate Bill SB48 Compare Versions

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1-SB 48
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28+SENATE BILL 48
29+57
30+TH LEGISLATURE
31+-
32+
33+STATE
34+
35+OF
36+
37+NEW
38+
39+MEXICO
40+
41+-
42+ FIRST SESSION
43+,
44+
45+2025
46+INTRODUCED BY
47+Mimi Stewart
2848 AN ACT
2949 RELATING TO PUBLIC FINANCE; CREATING THE COMMUNITY BENEFIT
30-FUND.
50+FUND; MAKING A TRANSFER FROM THE GENERAL FUND TO THE COMMUNITY
51+BENEFIT FUND.
3152 BE IT ENACTED BY THE LEGISLATURE OF THE STATE OF NEW MEXICO:
32-SECTION 1. COMMUNITY BENEFIT FUND--PROJECTS TO BE
33-FUNDED.--
53+SECTION 1. [NEW MATERIAL] COMMUNITY BENEFIT FUND--
54+PROJECTS TO BE FUNDED.--
3455 A. The "community benefit fund" is created as a
35-nonreverting fund in the state treasury. The fund consists
36-of distributions, appropriations, gifts, grants, donations
37-and bequests made to the fund and income from investment of
38-the fund. The department of finance and administration shall
56+nonreverting fund in the state treasury. The fund consists of
57+distributions, appropriations, gifts, grants, donations and
58+bequests made to the fund and income from investment of the
59+fund. The department of finance and administration shall
3960 administer the fund, and money in the fund is subject to
4061 appropriation by the legislature to fund projects that will:
41-(1) reduce a greenhouse gas; provided that
42-for projects related to:
43-(a) the construction or the renovation
44-of a public building, the reduction shall be accomplished by
45-practices that exceed all requirements of the most current
46-international energy conservation code; and
47-(b) reducing methane leaks and releases
48-attributable to the extractive industries, projects shall
49-implement greenhouse gas emission reduction strategies to
50-achieve emission reductions that are in addition to those
51-that would be achieved pursuant to any existing greenhouse SB 48
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62+(1) reduce a greenhouse gas; provided that for
63+.228868.8 underscored material = new
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90+projects related to:
91+(a) the construction or the renovation
92+of a public building, the reduction shall be accomplished by
93+practices that exceed all requirements of the most current
94+international energy conservation code; and
95+(b) reducing methane leaks and releases
96+attributable to the extractive industries, projects shall
97+implement greenhouse gas emission reduction strategies to
98+achieve emission reductions that are in addition to those that
99+would be achieved pursuant to any existing greenhouse
78100 regulatory requirements in state or federal law;
79101 (2) increase electric grid capacity,
80102 resilience or reliability through grid modernization;
81-(3) increase electricity from renewable
82-energy resources and the efficiency of electricity from
83-energy efficiency projects;
103+(3) increase electricity from renewable energy
104+resources and the efficiency of electricity from energy
105+efficiency projects;
84106 (4) reduce the use of combustion engine
85107 vehicles through transportation projects, including projects
86108 that increase electric vehicle infrastructure or bicycle and
87109 pedestrian infrastructure;
88110 (5) assess or reduce the effects of climate
89111 change on the natural environment, agricultural production,
90112 land and natural resources and human health;
91-(6) assist public entities in the purchase
92-of electric vehicles and related charging infrastructure to
93-reduce the use of combustion engine vehicles;
94-(7) establish or expand economic development
95-needed to address the economic implications of climate
96-change, develop economic opportunities to optimize resources
97-to lower consumption, promote the reuse and recycling of
98-materials in a sustainable manner and transition New Mexico
99-away from dependence on the fossil fuel industry as a revenue
100-resource; or
101-(8) establish or expand worker training
102-activities to provide workers for industries that assist in SB 48
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113+(6) assist public entities in the purchase of
114+electric vehicles and related charging infrastructure to reduce
115+.228868.8
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143+the use of combustion engine vehicles;
144+(7) establish or expand economic development
145+needed to address the economic implications of climate change,
146+develop economic opportunities to optimize resources to lower
147+consumption, promote the reuse and recycling of materials in a
148+sustainable manner and transition New Mexico away from
149+dependence on the fossil fuel industry as a revenue resource;
150+or
151+(8) establish or expand worker training
152+activities to provide workers for industries that assist in
129153 achieving the objectives identified in Paragraphs (1) through
130154 (7) of this subsection.
131-B. A project that proposes to meet the
132-requirements of:
133-(1) Paragraphs (1) through (5) of Subsection
134-A of this section shall include:
155+B. A project that proposes to meet the requirements
156+of:
157+(1) Paragraphs (1) through (5) of Subsection A
158+of this section shall include:
135159 (a) documentation that two meetings
136160 regarding the project were held within the community affected
137-by the proposed project to accept comments and address
138-concerns and that shows that notice of the meetings was
139-provided to overburdened communities that may be impacted by
140-the project; or
161+by the proposed project to accept comments and address concerns
162+and that shows that notice of the meetings was provided to
163+overburdened communities that may be impacted by the project;
164+or
141165 (b) a community benefits agreement
142166 negotiated with overburdened communities that may be impacted
143167 by the project; and
144-(2) Paragraphs (7) and (8) of Subsection A
145-of this section shall include a plan for outreach to
146-overburdened communities to encourage those communities to
147-participate in the worker training programs or in the
148-economic development opportunities.
149-C. The department of finance and administration
150-shall, in consultation with energy, minerals and natural
151-resources department, develop or identify a data tool that
152-uses spatial datasets to identify overburdened communities,
153-which are communities experiencing disproportionate burdens SB 48
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180-in climate change, energy, health, housing, legacy pollution,
181-transportation, water and wastewater and workforce
182-development. The departments shall ensure that data from
183-tribal and indigenous communities are included in the data
184-used by the data tool.
196+(2) Paragraphs (7) and (8) of Subsection A of
197+this section shall include a plan for outreach to overburdened
198+communities to encourage those communities to participate in
199+the worker training programs or in the economic development
200+opportunities.
201+C. The department of finance and administration
202+shall, in consultation with energy, minerals and natural
203+resources department, develop or identify an existing data tool
204+used by the federal government that uses spatial datasets to
205+identify overburdened communities, which are communities
206+experiencing disproportionate burdens in climate change,
207+energy, health, housing, legacy pollution, transportation,
208+water and wastewater and workforce development.
185209 D. On or before December 1 of each year that a
186210 project receives funding from the community benefit fund, the
187-administrating agency shall submit a report to the
188-appropriate interim legislative committees with the progress
189-or, if appropriate, final results of the project and any
190-other information the committee requires to evaluate the
191-project.
211+administrating agency shall submit a report to the appropriate
212+interim legislative committees with the progress or, if
213+appropriate, final results of the project and any other
214+information the committee requires to evaluate the project.
192215 E. As used in this section:
193216 (1) "climate change" means any significant
194217 change in the measures of climate lasting for an extended
195-period of time, typically decades or longer, and includes
196-major changes in temperature, precipitation, wind patterns or
197-other weather-related effects;
198-(2) "energy efficiency" means measures,
199-including energy conservation measures, or programs that
200-target consumer behavior, equipment or devices to result in a
201-decrease in consumption of electricity without reducing the
202-amount or quality of energy services;
203-(3) "greenhouse gas" means a gas or gaseous
204-compound that contributes to the process through which heat SB 48
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218+period of time, typically decades or longer, and includes major
219+changes in temperature, precipitation, wind patterns or other
220+weather-related effects;
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231-is trapped near earth's surface by absorbing infrared
232-radiation, including carbon dioxide, methane, nitrous oxide,
233-hydrofluorocarbons, perfluorocarbons, nitrogen trifluoride
234-and sulfur hexafluoride;
235-(4) "grid modernization" means improvements
236-to electric distribution or transmission infrastructure,
237-including related data analytics equipment, that are designed
238-to accommodate or facilitate the integration of renewable
239-electric generation resources with the electric distribution
240-grid or to otherwise enhance electric distribution or
241-transmission grid reliability, grid security, demand response
242-capability, customer service or energy efficiency or
243-conservation; and
244-(5) "renewable energy resource" means
245-electric or useful thermal energy that:
246-(a) is generated by use of the
247-following energy resources, with or without energy storage
248-and delivered to a rural electric cooperative or public
249-utility: 1) solar, wind and geothermal; 2) hydropower
250-facilities brought in service on or after July 1, 2007;
251-3) other hydropower facilities supplying no greater than the
252-amount of energy from hydropower facilities that were part of
253-an energy supply portfolio prior to July 1, 2007; 4) fuel
254-cells that do not use fossil fuels to create electricity;
255-5) biomass resources, limited to agriculture or animal waste, SB 48
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249+(2) "energy efficiency" means measures,
250+including energy conservation measures, or programs that target
251+consumer behavior, equipment or devices to result in a decrease
252+in consumption of electricity without reducing the amount or
253+quality of energy services;
254+(3) "greenhouse gas" means a gas or gaseous
255+compound that contributes to the process through which heat is
256+trapped near earth's surface by absorbing infrared radiation,
257+including carbon dioxide, methane, nitrous oxide,
258+hydrofluorocarbons, perfluorocarbons, nitrogen trifluoride and
259+sulfur hexafluoride;
260+(4) "grid modernization" means improvements to
261+electric distribution or transmission infrastructure, including
262+related data analytics equipment, that are designed to
263+accommodate or facilitate the integration of renewable electric
264+generation resources with the electric distribution grid or to
265+otherwise enhance electric distribution or transmission grid
266+reliability, grid security, demand response capability,
267+customer service or energy efficiency or conservation; and
268+(5) "renewable energy resource" means electric
269+or useful thermal energy that:
270+(a) is generated by use of the following
271+energy resources, with or without energy storage and delivered
272+to a rural electric cooperative or public utility: 1) solar,
273+wind and geothermal; 2) hydropower facilities brought in
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282-small diameter timber not to exceed eight inches, salt cedar
283-and other phreatophyte or woody vegetation removed from river
284-basins or watersheds in New Mexico; provided that these
285-resources are from facilities certified by the energy,
286-minerals and natural resources department to: a) be of
287-appropriate scale to have sustainable feedstock in the near
288-vicinity; b) have zero life cycle carbon emissions; and
289-c) meet scientifically determined restoration, sustainability
290-and soil nutrient principles; and 6) landfill gas and
291-anaerobically digested waste biomass; and
302+service on or after July 1, 2007; 3) other hydropower
303+facilities supplying no greater than the amount of energy from
304+hydropower facilities that were part of an energy supply
305+portfolio prior to July 1, 2007; 4) fuel cells that do not use
306+fossil fuels to create electricity; 5) biomass resources,
307+limited to agriculture or animal waste, small diameter timber
308+not to exceed eight inches, salt cedar and other phreatophyte
309+or woody vegetation removed from river basins or watersheds in
310+New Mexico; provided that these resources are from facilities
311+certified by the energy, minerals and natural resources
312+department to: a) be of appropriate scale to have sustainable
313+feedstock in the near vicinity; b) have zero life cycle carbon
314+emissions; and c) meet scientifically determined restoration,
315+sustainability and soil nutrient principles; and 6) landfill
316+gas and anaerobically digested waste biomass; and
292317 (b) does not include electric energy
293318 generated by use of fossil fuel or nuclear energy.
319+SECTION 2. TRANSFER.--Three hundred forty million dollars
320+($340,000,000) is transferred from the general fund to the
321+community benefit fund.
322+- 6 -
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