44th legislature - STATE OF NEW MEXICO - second session, 2000

RELATING TO ELECTRIC UTILITIES; PROVIDING FOR LIMITED AUTHORITY TO EXERCISE THE POWER OF EMINENT DOMAIN FOR CERTAIN REASONS BY PUBLIC ELECTRIC UTILITIES; DECLARING AN EMERGENCY.

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 the Electric Utility Industry Restructuring Act of 1999, a public electric utility is granted the authority to condemn any covenant or other provision 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, if such covenant or provision may otherwise impair or impede the orderly separation of supply and energy-related services from transmission and distribution services at reasonable cost.

B. A public electric utility may use the condemnation authority granted by this section only with the express approval of the public regulation commission. The commission shall act upon a request to use such condemnation authority within thirty days. In exercising the authority granted in this section, the public electric utility shall proceed pursuant to the applicable provisions of the Eminent Domain Code.

Section 2. EMERGENCY.--It is necessary for the public peace, health and safety that this act take effect immediately.