HB 053: CERTAIN TAXES FOR LOW-INCOME HOME ASSISTANCE

An Act Relating To Low-income Home Energy Assistance; Providing For Distributions From The Extraction Taxes Suspense Fund For Low-income Home Energy Assistance And Weatherization If Net Receipts From The Oil And Gas Emergency School Tax Exceed Certain Amounts; Creating A Fund; Making An Appropriation.

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MILD HB 053
CERTAIN TAXES FOR LOW-INCOME HOME ASSISTANCE

Legislative URL:

HB 053 on nmlegis.gov

Emergency Clause:

No

Germane:

N/A

Location:

HAFC

Action:

HPREF [1] HHC/HAFC-HHC [3] DP-HAFC API.

Issue(s):

Energy

Related Legislators

Bill Sponsor:

Miguel Garcia

Related Documents

Downloads:

Introduced
HHC Committee Report
Fiscal Impact Report

Summary

This bill, for the Legislative Health and Human Services Committee, creates a Low-Income Home Energy Assistance Fund with distributions from the Extraction Taxes Suspense Fund.

Money in the new fund is appropriated 80 percent to the Human Services Department for the Low-Income Home Energy Assistance Program, and 20 percent to the Department of Finance and Administration for the New Mexico Mortgage Finance Authority to provide for weatherization of homes eligible for low-income home energy assistance.

A potential benefit of this bill is that it may reduce energy inefficiency and the dependence of low-income homes on oil, gas and electricity resources.