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SENATE BILL 49
57
TH LEGISLATURE
-
STATE
OF
NEW
MEXICO
-
FIRST SESSION
,
2025
INTRODUCED BY
Mimi Stewart
AN ACT
MAKING APPROPRIATIONS AND TRANSFERS FROM THE COMMUNITY BENEFIT
FUND CONTINGENT ON ENACTMENT OF THE FUND DURING THE FIRST
SESSION OF THE FIFTY-SEVENTH LEGISLATURE AND THE PROVISION OF
FUNDING FOR THE FUND.
BE IT ENACTED BY THE LEGISLATURE OF THE STATE OF NEW MEXICO:
SECTION 1. APPROPRIATION--COMMUNITY BENEFIT FUND TO THE
ECONOMIC DEVELOPMENT DEPARTMENT.--Forty million dollars
($40,000,000) is appropriated from the community benefit fund
to the economic development department for expenditure in
fiscal years 2026 through 2028 to assist in diversifying and
promoting the state's economy by fostering economic development
opportunities unrelated to fossil fuel development or use and
prioritizing projects from target industries, including
aerospace, biosciences, creative industries, cybersecurity,
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film and television, outdoor recreation, sustainable and
value-added agriculture, intelligent manufacturing, global
trade and sustainable and green industries. Any unexpended or
unencumbered balance remaining at the end of fiscal year 2028
shall revert to the community benefit fund.
SECTION 2. TRANSFER--COMMUNITY BENEFIT FUND TO THE
COMMUNITY ENERGY EFFICIENCY DEVELOPMENT BLOCK GRANT FUND.--
Twenty million dollars ($20,000,000) is transferred from the
community benefit fund to the community energy efficiency
development block grant fund.
SECTION 3. TRANSFER--COMMUNITY BENEFIT FUND TO THE GRID
MODERNIZATION GRANT FUND.--One hundred million dollars
($100,000,000) is transferred from the community benefit fund
to the grid modernization grant fund.
SECTION 4. TRANSFER--COMMUNITY BENEFIT FUND TO THE
TRANSPORTATION PROJECT FUND.--Fifty million dollars
($50,000,000) is transferred from the community benefit fund to
the transportation project fund for transportation-related
projects that reduce the use of combustion engine vehicles,
including for bicycle and pedestrian infrastructure and
pedestrian safety.
SECTION 5. APPROPRIATION--COMMUNITY BENEFIT FUND TO THE
STATE SUPPLEMENTAL LAND AND WATER CONSERVATION FUND.--Five
million dollars ($5,000,000) is appropriated from the community
benefit fund to the state supplemental land and water
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conservation fund for expenditure in fiscal years 2026 through
2028 for the purposes of the Outdoor Recreation Act. Any
unexpended or unencumbered balance remaining at the end of
fiscal year 2028 shall revert to the community benefit fund.
SECTION 6. APPROPRIATION--COMMUNITY BENEFIT FUND TO THE
ENERGY, MINERALS AND NATURAL RESOURCES DEPARTMENT.--Forty
million dollars ($40,000,000) is appropriated from the
community benefit fund to the energy, minerals and natural
resources department for expenditure in fiscal years 2026
through 2028 to provide competitive grants to entities to
develop or enhance energy efficiency technology, renewable
energy technology, batteries and other systems capable of
retaining, storing and delivering energy by chemical, thermal,
mechanical or other means and any interconnection equipment
required to safely interconnect these systems with the electric
grid. Any unexpended or unencumbered balance remaining at the
end of fiscal year 2028 shall revert to the community benefit
fund.
SECTION 7. APPROPRIATION--COMMUNITY BENEFIT FUND TO THE
WORKFORCE SOLUTIONS DEPARTMENT.--Twenty-five million dollars
($25,000,000) is appropriated from the community benefit fund
to the workforce solutions department for expenditure in fiscal
years 2026 through 2028 in consultation with the higher
education department to provide individuals training in
non-extractive industries and to provide extractive industry
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workers with training that will enhance their skill set to
transition to non-extractive industries. Any unexpended or
unencumbered balance remaining at the end of fiscal year 2028
shall revert to the community benefit fund.
SECTION 8. APPROPRIATION--COMMUNITY BENEFIT FUND TO THE
PUBLIC SCHOOL FACILITIES AUTHORITY.--Sixty million dollars
($60,000,000) is transferred from the community benefit fund to
the public school facilities authority for expenditure in
fiscal years 2026 through 2028 to cover electric vehicle
charging infrastructure for school districts and the difference
in cost between upgrading from diesel-fueled school buses to
electric school buses. Any unexpended or unencumbered balance
remaining at the end of fiscal year 2028 shall revert to the
community benefit fund.
SECTION 9. CONTINGENT EFFECTIVE DATE.--The effective date
of the provisions of this act is contingent on enactment of a
fund deemed the "community benefit fund" during the first
session of the fifty-seventh legislature and the provision of
funding for the fund sufficient to meet the appropriations and
transfers made pursuant to this act.
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