summary
Introduced
01/16/2024
01/16/2024
In Committee
02/10/2024
02/10/2024
Crossed Over
02/06/2024
02/06/2024
Passed
02/14/2024
02/14/2024
Dead
Signed/Enacted/Adopted
03/05/2024
03/05/2024
Introduced Session
2024 Regular Session
Bill Summary
AN ACT RELATING TO GEOTHERMAL RESOURCES; AMENDING THE DUTIES OF THE ENERGY CONSERVATION AND MANAGEMENT DIVISION OF THE ENERGY, MINERALS AND NATURAL RESOURCES DEPARTMENT; CREATING THE GEOTHERMAL PROJECTS DEVELOPMENT FUND; AUTHORIZING GRANTS; CREATING THE GEOTHERMAL PROJECTS REVOLVING LOAN FUND; AUTHORIZING LOANS.
AI Summary
This bill amends the Geothermal Resources Development Act to expand the duties of the Energy Conservation and Management Division (the Division) of the Energy, Minerals and Natural Resources Department. It creates the Geothermal Projects Development Fund and the Geothermal Projects Revolving Loan Fund, which the Division will administer. The Geothermal Projects Development Fund provides grants for studying the costs and benefits of proposed geothermal development projects, as well as grants to finance approved geothermal development projects. The Geothermal Projects Revolving Loan Fund provides low-interest loans to political subdivisions, state universities, tribes, nonprofits, and private entities for approved geothermal development projects. The bill also requires the Division to report annually on the activities and status of these funds.
Committee Categories
Agriculture and Natural Resources, Budget and Finance
Sponsors (3)
Last Action
Signed by Governor - Chapter 55 - Mar. 5 (on 03/05/2024)
bill text
bill summary
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bill summary
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bill summary
| Document Type | Source Location |
|---|---|
| State Bill Page | https://www.nmlegis.gov/Legislation/Legislation?chamber=H&legtype=B&legno=91&year=24 |
| BillText | https://www.nmlegis.gov/Sessions/24%20Regular/final/HB0091.pdf |
| BillText | https://www.nmlegis.gov/Sessions/24%20Regular/bills/house/HB0091.pdf |
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