NM HB171

Establishes a Wildfire Fund to reimburse participating electric utilities for damages from wildfires caused by their infrastructure, financed by per-megawatt surcharges collected from electric customers

Requires electric utilities to submit wildfire mitigation plans covering monitoring, response protocols, public safety power shutoffs, and vegetation management for administrator approval before participating in the fund

Creates the Service Infrastructure Safety Bureau and Service Infrastructure Safety Engineer position within the Public Regulation Commission, with $2.5 million appropriated for fiscal year 2027 staffing

Prohibits fund disbursements until 2030 and requires utilities to participate for minimum three consecutive years before receiving reimbursements; no disbursements allowed if fund balance falls below 30% of total risk estimate

Caps administrator compensation at $1.5 million annually and requires yearly reports to the legislature on fund sustainability and wildfire risk reduction effectiveness