STATE News:
SANTA FE – Today, House Bill 50, House Bill 233 and Senate Bill 29—a slate of bills protecting New Mexico’s environment and promoting a clean energy future while strengthening the state’s economy—were signed by Gov. Michelle Lujan-Grisham.
House Bill 50, sponsored by Rep. Nathan Small, expands infrastructure for renewable energy by making transmission line projects eligible for Industrial Revenue Bonds available through cities and municipalities. Signed into law today, House Bill 50 becomes effective July 1, 2020.
“House Bill 50 promotes jobs for New Mexicans by adding another tool for transmission of our rich, renewable resources,” Small said. “I am proud to partner with my colleagues in the Senate and the Legislature, as well as with Governor Lujan Grisham, to pass this bill supporting economic development and environmental stewardship based on reliable and affordable renewable energy across the state.”
House Bill 233, sponsored by Representatives Melanie Stansbury, Abbas Akhil and Nathan Small, and Senators Pat Woods and Mimi Stewart, directs the state to: develop a roadmap to modernize New Mexico’s electric grid, create a competitive grant program to support communities in implementing grid projects, and build a grid modernization framework for utilities. Signed into law today, House Bill 233 becomes effective May 20, 2020.
“This bill will help bring New Mexico’s electric grid into the 21st century to ensure we have a reliable, resilient, and secure energy future. Developed through an extraordinary partnership, this bill represents collaborative policy making at its best,” Stansbury said. “Now that it’s signed into law, I’m excited to get to work!”
Senate Bill 29, sponsored by Sen. Mimi Stewart and Rep. Matthew McQueen, reinstated a 10 percent tax credit toward the purchase of a solar system that expired in 2016, creating more renewable energy jobs, reducing emissions in the electricity sector and providing a savings on residents’ electricity bills. Signed into law today, Senate Bill 29 is applicable to tax years starting Jan. 1, 2020.
“This is a pivotal moment. It’s time for New Mexico to encourage energy sustainability, stimulate the solar industry economy, and provide families, businesses, and agricultural enterprises from all corners of the state, and in all financial brackets, the opportunity to be a part of the growing clean energy economy,” McQueen said. “I am proud to have worked with my colleagues in the Legislature and the Senate on Senate Bill 29, reinstating the solar tax credit and helping to move towards our ambitious goals for renewable energy in New Mexico.”
All three bills passed both houses with bipartisan support, highlighting the importance of infrastructure and renewable energy investments, as well as the need to work together to ensure that New Mexico continues on the right track towards its goals for an environmentally-sound future.