Bill > HB41

This bill authorizes the Environmental Improvement Board to adopt rules establishing a Clean Transportation Fuel Standard program. The program aims to reduce the carbon intensity of transportation fuels used in the state by at least 20% below 2018 levels by 2030 and 30% by 2040. The rules will create a system for generating, trading, and retiring credits among fuel producers and distributors, with mechanisms to stabilize the credit market and limit consumer costs. The bill also requires utilities participating in the program to invest credit revenues into transportation decarbonization projects, with at least 50% supporting low-income and underserved communities. The board must convene an advisory committee to provide input on the program's development and implementation.

Agriculture and Natural Resources

https://www.nmlegis.gov/Legislation/Legislation?chamber=H&legtype=B&legno=41&year=24