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NM SB308
Bill
Status
Introduced
2/4/2026
Primary Sponsor
William Sharer
Click for details
AI Summary
- Public utilities may petition the commission for a waiver of renewable portfolio standards and zero carbon emission requirements if compliance would cause residential rate increases greater than 0.5% while maintaining system reliability
- Utilities granted a waiver may purchase, construct, or acquire carbon-based energy generation facilities and operate them for their entire useful life, including purchasing out-of-state energy from carbon-based sources
- Department of Environment shall establish a voluntary "certified New Mexico low-emission gas" monitoring and reporting program for oil and gas operators, with the Environmental Improvement Board adopting a carbon intensity standard after at least one year of data collection
- Public utilities, electric generation resources, and qualified microgrids may procure and use certified New Mexico low-emission natural gas for electricity generation and reliability purposes
- Creates a corporate income tax credit equal to 15% of equipment and software costs for installing qualified greenhouse gas-reducing natural gas technology, effective for taxable years beginning January 1, 2026, with no refunds or carryforward for unused credits
Legislative Description
Utility & Energy Changes
Last Action
Sent to SCC - Referrals: SCC/STBTC/SFC
2/4/2026
Committee Referrals
Committees2/4/2026
Full Bill Text
No bill text available