NM HB267

Electric utilities may submit wildfire mitigation plans to the Public Regulation Commission for approval beginning August 1, 2026, with the commission required to approve or reject plans within 180 days

Utilities with approved mitigation plans and demonstrated compliance receive a certificate of compliance, which creates a rebuttable presumption of reasonable wildfire preparation in civil lawsuits

Liability protections limit damages in qualified wildfire civil actions: economic losses capped at restoration costs or diminished property value, noneconomic damages capped at $500,000 per plaintiff for serious physical injuries, and attorney fees and punitive damages are prohibited

Statute of limitations for wildfire lawsuits against compliant utilities shortened to one calendar year from ignition date, compared to the standard four-year period for other tort actions

Appropriates $12.25 million total: $1.5 million to the Public Regulation Commission for implementation, $10 million for grants to rural electric cooperatives for mitigation plan implementation, and $750,000 to the Forestry Division for administration