Bill > SB11

This bill, the Clean Fuel Standard Act, establishes a clean fuel standard for transportation fuels in New Mexico. It directs the Environmental Improvement Board to promulgate rules to implement the act, which will require transportation fuel providers to reduce the carbon intensity of their fuels by a minimum of 10% below 2018 levels by 2030 and 20% by 2040, with further reductions thereafter. The rules will also establish a credit system for providers to comply with the standard, including allowing other entities such as those in the agriculture, energy, and manufacturing sectors to generate credits. The bill creates the Clean Fuel Standard Fund to cover the Department of Environment's administration and enforcement of the program, funded by annual registration fees on providers and credit generators.

Agriculture and Natural Resources, Budget and Finance

https://www.nmlegis.gov/lcs/legislation.aspx?chamber=S&legtype=B&legno=11&year=21