SENATE BILL 49

57th 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, 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 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 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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