44th legislature - STATE OF NEW MEXICO - first session, 1999

RELATING TO THE PUBLIC PEACE, HEALTH, SAFETY AND WELFARE; PROVIDING FOR LIMITED AUTHORITY TO EXERCISE THE POWER OF EMINENT DOMAIN FOR CERTAIN REASONS BY PUBLIC ELECTRIC UTILITIES.

BE IT ENACTED BY THE LEGISLATURE OF THE STATE OF NEW MEXICO:

Section 1. LIMITED POWER OF EMINENT DOMAIN--CONDEMNATION BY PUBLIC ELECTRIC UTILITY.--

A. To the extent necessary or appropriate to implement a plan or any provision of a plan for transition to retail competition pursuant to express statutory authority providing for customer choice of competitive power suppliers, a public electric utility is granted the authority to condemn:

(1) a plant, property or facility leased to the public electric utility and used by it in its public utility business; and

(2) all or any part of any lease, mortgage, deed of trust, trust indenture, assignment of rents, security agreement, participation or other similar agreement, contract, deed or easement to which the public electric utility is a party or by which it or property leased by it is or may be bound.

B. A public electric utility shall be allowed to use the condemnation authority granted by this section only with the express approval of the public regulation commission, which shall be granted if implementation of the public electric utility's transition plan may be facilitated by such authority. In exercising the authority granted in this section, the public electric utility shall proceed pursuant to the applicable provisions of the Eminent Domain Code.