Bill > HB153

This bill enacts three new acts: the Low-Carbon Construction Material Rebate Act, the Environmental Product Declaration Act, and the Industrial Carbon Reduction Act. The Low-Carbon Construction Material Rebate Act establishes a program to provide rebates to individuals or entities purchasing construction materials with lower greenhouse gas emissions, as verified by an Environmental Product Declaration (EPD), which is an independently verified document detailing a product's environmental impact over its lifecycle. The Environmental Product Declaration Act creates a program within the Department of Environment to assist manufacturers in creating EPDs for various construction materials and to research ways to reduce embodied carbon, which refers to the greenhouse gas emissions associated with a material's entire lifecycle. The Industrial Carbon Reduction Act establishes programs administered by the Economic Development Department to provide incentives and grants to industrial facilities in New Mexico that reduce their carbon intensity, defined as the amount of carbon dioxide emitted per ton of product, by at least 40% below industry benchmarks for eligible products like cement, steel, and aluminum, with the goal of encouraging cleaner industrial production and economic growth.