SB 101: ENERGY CONSERVATION BONDS

An Act Relating To Public Financing; Providing A Process For Allocating And Issuing Qualified Energy Conservation Bonds Pursuant To The Federal Internal Revenue Code.

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MOD SB 101
ENERGY CONSERVATION BONDS

Legislative URL:

SB 101 on nmlegis.gov

Emergency Clause:

No

Germane:

N/A

Location:

Signed

Action:

[1] SCONC/SFC-SCONC [4] DP-SFC [18] DP [19] PASSED/S (36-0) [29] HENRC/HTRC-HENRC [39] DP-HTRC- DP - PASSED/H (64-0) SGND (Mar.27) Ch. 46.

Issue(s):

Energy

Related Legislators

Bill Sponsor:

Peter Wirth

Related Documents

Downloads:

Introduced
SCONC Committee Report
SFC Committee Report
Final Senate Vote
HENRC Committee Report
HTRC Committee Report
Final House Vote
Fiscal Impact Report
LESC Analysis
Final Version

Summary

This bill establishes the process in New Mexico for the state, local and tribal governments to issue Qualified Energy Conservation Bonds  (QECBs) pursuant to federal law. The bill authorizes the State Board of Finance to administer the QECB process.

Under the bill, the net sales proceeds of QECBs must be used for “qualified conservation purposes.” Those include, among others:

• reducing energy consumption in publicly owned buildings;
• implementing green community programs;
• rural development involving the production of electricity from renewable energy resources;
• supporting research in the development of non-fossil fuels, technologies for the capture and sequestration of carbon dioxide, and technologies to reduce fossil fuel consumption in transportation and energy use in buildings;
• mass commuting facilities and related facilities that reduce the consumption of energy;
• demonstration projects involving the technology for: green building, converting agricultural waste into fuel, reducing peak use electricity, and the capture and sequestration of carbon dioxide; and,
• public education campaigns on energy efficiency.

Outcome: SB 101 passed the Senate (36-0) and the House (64-0), and was signed into law on March 27th, 2013.

Date of Analysis:  1/18/13; Updated 5/20/13