HOUSE BILL 72
53rd legislature - STATE OF NEW MEXICO - second session, 2018
Paul C. Bandy
RELATING TO PUBLIC UTILITIES; AUTHORIZING A PUBLIC UTILITY TO CONVEY TITLE TO A COAL-FIRED POWER PLANT TO ANOTHER ENTITY FOR ONE DOLLAR ($1.00); EXEMPTING THE CONVEYANCE FROM THE PUBLIC REGULATION COMMISSION'S JURISDICTION.
BE IT ENACTED BY THE LEGISLATURE OF THE STATE OF NEW MEXICO:
SECTION 1. A new section of the Public Utility Act is enacted to read:
"[NEW MATERIAL] CONVEYANCE OF COAL-FIRED POWER PLANT FOR ONE DOLLAR ($1.00)--EXEMPTION FROM COMMISSION JURISDICTION.--A public utility that intends to abandon a coal-fired power plant may convey title to the coal-fired power plant to another entity for one dollar ($1.00); provided that the entity to whom the coal-fired power plant is conveyed shall use all or part of the power plant's infrastructure for energy production or distribution. A conveyance pursuant to this section shall not be subject to the jurisdiction of the commission."
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