HOUSE MEMORIAL 49

57th legislature - STATE OF NEW MEXICO - first session, 2025

INTRODUCED BY

Cathrynn N. Brown

 

 

 

 

 

A MEMORIAL

REQUESTING THE CONSIDERATION AND STUDY OF ESTABLISHING A PERFORMANCE-BASED AND LOW-INTEREST LOAN PROGRAM TO FINANCE UPGRADES TO AND THE DEVELOPMENT OF NEW ELECTRIC TRANSMISSION, DISTRIBUTION AND GENERATION INFRASTRUCTURE AND FACILITIES.

 

     WHEREAS, New Mexico's electric grid and energy infrastructure are vital to the well-being, economic prosperity and quality of life of all New Mexicans; and

     WHEREAS, New Mexico has the potential to be a leader in electric energy generation, with its access to abundant wind, solar and geothermal resources, but currently lacks sufficient transmission and distribution infrastructure; and

     WHEREAS, existing transmission lines and distribution systems in many areas of New Mexico, particularly in rural and underserved regions, are outdated and vulnerable; and

     WHEREAS, modernizing and expanding New Mexico's transmission and distribution infrastructure and electric generating facilities could attract new industries, create new jobs, support long-term economic development and contribute to a stable and reliable electric grid; and

     WHEREAS, other states have enacted laws to enhance electric grid reliability, such as the Powering Texas Forward Act, which provides performance-based grants and low-interest loans to finance upgrades to and the development of new electric transmission, distribution and generation infrastructure and facilities; and

     WHEREAS, with its access to natural resources, need for improved energy infrastructure and current financial strength, New Mexico should capitalize on this opportunity and invest in similar programs to improve its electric grid facilities and infrastructure and position itself to meet future energy demands;

     NOW, THEREFORE, BE IT RESOLVED BY THE HOUSE OF REPRESENTATIVES OF THE STATE OF NEW MEXICO that the governor, the members of the legislature and other leaders in New Mexico be requested to consider and prioritize establishing a program to expand and improve the state's electric grid; and

     BE IT FURTHER RESOLVED that the public regulation commission, in collaboration with the energy, minerals and natural resources department and the economic development department, be requested to convene a task force to study the electric infrastructure and facility needs of the state and the feasibility of establishing a program similar to that created by the Powering Texas Forward Act to provide performance-based grants and low-interest loans to finance upgrades to and the development of new electric transmission, distribution and generation infrastructure and facilities; and

     BE IT FURTHER RESOLVED that the public regulation commission be requested to report to the appropriate legislative interim committee about its findings and recommendations; and

     BE IT FURTHER RESOLVED that copies of this memorial be transmitted to the governor, members of the legislature, the public regulation commissioners, the secretary of energy, minerals and natural resources and the secretary of economic development.

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