STATE News:
SANTA FE – Wednesday a proactive solution that invests in New Mexico’s resilient future passed the legislature in a historic step to support a thriving and sustainable state for generations to come.
Senate Bill 48, the Community Benefit Fund now awaits the Governor’s signature. Sponsored by Senate Pro Tempore Mimi Stewart (D-Albuquerque) and House Majority Leader Reena Szczepanski (D-Santa Fe), the Community Benefit Fund represents a bold commitment to proactively investing in locally-driven projects that will strengthen communities, create good-paying jobs, and help New Mexicans prepare for a changing climate.
“New Mexico has a choice: we can continue spending hundreds of millions each year recovering from increasingly frequent wildfires, droughts, and extreme temperatures, or we can invest in building resilient opportunities now,” Senate Pro Tempore Mimi Stewart said. “The Community Benefit Fund gives communities the resources to modernize infrastructure, create good-paying jobs in emerging industries, and lower energy costs through smart home upgrades—helping build a stronger, more sustainable New Mexico for generations to come.”
The Community Benefit Fund directs $210 million toward existing funds and projects that expand renewable energy, improve grid reliability, invest in workforce training, and enhance community resilience—especially in rural and underserved areas. Whether it’s upgrading outdated electric grids to mitigate wildfire risks for mountain communities, expanding energy efficiency programs for homes and businesses, or training and workforce development programs to support it all, the Community Benefit Fund equips communities to take charge of their future.
“We are taking a proactive approach to addressing the impacts of climate change that threaten communities across our state, from wildfires and floods to limited water supply and air pollution,” Leader Szczepanski said. “These investments will not only improve the resiliency and sustainability of towns and cities throughout New Mexico, but will help build strong local workforces and economies to power our future.”
In 2024 alone, New Mexico faced over $1 billion in damage from extreme climate-related events, including wildfires, drought, high winds, and soaring temperatures. This includes $141 million allocated through executive orders for disaster response and recovery, as well as over $900 million in insurance claims from the Calf Canyon and Hermit’s Peak fires, which burned 524 square miles and destroyed 635 homes. The state’s agricultural industry has also suffered, reporting $74 million in crop and livestock losses due to climate-related impacts.
With New Mexico already spending millions each year on disaster recovery, SB 48 shifts the state’s approach from reactive to proactive—investing in infrastructure, job creation, and local climate solutions to invest in resiliency and opportunities before wildfire, flood, or prolonged drought devastates the next community.