New Mexico 2023 Regular Session Status: Passed Senate Bipartisan · 1 R · 1 D cosponsors

SB 8 — GEOTHERMAL RESOURCES DEVELOPMENT

Last action — DO PASS committee report adopted

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    Introduced
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  3. 3
    Passed Senate
  4. 4
    Passed House
  5. 5
    To Executive
  6. 6
    Enacted

This bill died with 2023 Regular Session. It reached “Passed Senate” and never advanced before the session ended, so it can no longer move — a new version would have to be reintroduced in the current session.

This bill is no longer active — its legislative session has ended, so there is no live prognosis. It would have to be reintroduced in the current session to move again.

Bill Text

What changed in the latest version

517 added · 406 removed

Plain-language change summary

The latest version of Senate Bill 8 has replaced the establishment of a "Center of Excellence for Geothermal Resources" with a broader focus that simply adds "geothermal resources" to the existing Center of Excellence at the New Mexico Institute of Mining and Technology. Additionally, the bill now creates a "Geothermal Resources Development Fund" instead of the previous "Geothermal Projects Development Fund" and eliminates a specific revolving loan fund for geothermal projects. These changes streamline the approach to promoting geothermal resources and funding while simplifying the overall structure of the bill, which could lead to more effective use of state resources in developing geothermal energy.

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SENATE FINANCE COMMITTEE SUBSTITUTE FOR SENATE BILL 8 56TH LEGISLATURE -STATEOFNEWMEXICO- FIRST SESSION, 2023 4 6 8 10 AN ACT RELATING TO GEOTHERMAL RESOURCES;
SENATE BILL 8 56TH LEGISLATURE - STATEOFNEWMEXICO- FIRST SESSION, 2023 INTRODUCED BY Gerald Ortiz y Pino and Pat Woods and Ron Griggs and Patricia Roybal Caballero This document may incorporate amendments proposed by a committee, but not yet adopted, as well as amendments that have been adopted during the current legislative session.
ADDING A CENTER OF EXCELLENCE FOR GEOTHERMAL RESOURCES AT THE NEW MEXICO INSTITUTE OF MINING AND TECHNOLOGY;
The document is a tool to show amendments in context and cannot be used for the purpose of adding amendments to legislation.
AMENDING THE DUTIES OF THE ENERGY CONSERVATION AND MANAGEMENT DIVISION OF THE ENERGY, MINERALS AND NATURAL RESOURCES DEPARTMENT;
AN ACT h RELATING TO GEOTHERMAL RESOURCES;
CREATING THE GEOTHERMAL PROJECTS DEVELOPMENT FUND;
ADDING GEOTHERMAL RESOURCES g o TO THE CENTER OF EXCELLENCE AT THE NEW MEXICO INSTITUTE OF t hr g e i k MINING AND TECHNOLOGY;
AMENDING THE DUTIES OF THE ENERGY h r i s CONSERVATION AND MANAGEMENT DIVISION OF THE ENERGY, MINERALS h , t, AND NATURAL RESOURCES DEPARTMENT;
CREATING THE GEOTHERMAL e u g e b l e e h RESOURCES DEVELOPMENT FUND;
CREATING THE GEOTHERMAL e t 17 PROJECTS REVOLVING LOAN FUND;
CREATING THE n d d i = = o h GEOTHERMAL RESOURCES REVOLVING LOAN FUND;
AUTHORIZING LOANS.
AUTHORIZING LOANS;
w l n d 18 = = 19 a l BE IT ENACTED BY THE LEGISLATURE OF THE STATE OF NEW MEXICO:
l ] b ,d i a º e MAKING APPROPRIATIONS.
i a e r 20 SECTION 1.
r i = r t e w d m a n o d m :
Section 21-1-27.11 NMSA 1978 (being Laws 2019, a t m m 21 Chapter 60, Section 1) is amended to read:
b e d s º o t n = .223047.5AIC January 26, 2023 (5:25pm) s k m e e a n e d r e l u [ A d BE IT ENACTED BY THE LEGISLATURE OF THE STATE OF NEW MEXICO:
d r e 22 "21-1-27.11.
SECTION 1.
CENTERS OF EXCELLENCE.-- c e s k 23 A.
Section 21-1-27.11 NMSA 1978 (being Laws 2019, Chapter 60, Section 1) is amended to read:
A "center of excellence" is established at the e a n b 24 following higher education institutions:
"21-1-27.11.
u [ (1) the New Mexico institute of mining and .224923.2 SFC/SB 8 technology to work toward developing and promoting innovation in and expanding cybersecurity industries;
CENTERS OF EXCELLENCE.-- A.
(2) the New Mexico institute of mining and technology to work toward developing and promoting innovation in and expanding geothermal resources;
A "center of excellence" is established at the following higher education institutions:
[(2)] (3) New Mexico state university to work toward developing and promoting innovation in and expanding sustainable agricultural industries;
(1) the New Mexico institute of mining and technology to work toward developing and promoting innovation in and expanding cybersecurity industries SCONCº and geothermal»SCONC SCONCºresources»SCONC ;
[(3)] (4) San Juan college to work toward developing and promoting innovation in and expanding sustainable and renewable energy industries;
SCONCº (2) the New Mexico institute of mining and technology to work toward developing and promoting innovation in and expanding geothermal resources;»SCONC SCONCº (2)»SCONC SCONCº(3)»SCONC New Mexico state university to work toward developing and promoting innovation in and expanding sustainable agricultural industries;
and [(4)] (5) the university of New Mexico health sciences center-affiliated entity, the New Mexico bioscience authority, to continue its work toward developing, promoting innovation in and expanding the bioscience industry in New Mexico.
h g SCONCº (3)»SCONC SCONCº(4)»SCONC San Juan o t hr college to work toward developing and promoting innovation in g e i k and expanding sustainable and renewable energy industries;
e t 17 B.
and h r i s h SCONCº(4)»SCONC SCONCº(5)»SCONC the , t, e u g university of New Mexico health sciences center-affiliated e b l e e h entity, the New Mexico bioscience authority, to continue its n d d i = = o h l ] b ,d work toward developing, promoting innovation in and expanding i a º e r i = r the bioscience industry in New Mexico.
Each center of excellence provided for in w l n d 18 Subsection A of this section shall foster excellence in the = = 19 noted [field] fields through:
t e w d m a n o B.
a l i a e r 20 (1) collaboration among leaders of the state's a t m m 21 agencies, higher education institutions, business sector, d r e 22 national laboratories and community organizations;
Each center of excellence provided for in d m :
c e s k 23 (2) the development by those leaders of e a n b 24 strategies to accomplish that aim;
b e d s º o t n = .223047.5AIC January 26, 2023 (5:25pm) s k m e -2- e a n e d r e l u [ A d Subsection A of this section shall foster excellence in the noted [field ] fields through:
and u [ (3) the execution of those strategies.
(1) collaboration among leaders of the state's agencies, higher education institutions, business sector, national laboratories and community organizations;
.224923.2 - 2 - SFC/SB 8 C.
(2) the development by those leaders of strategies to accomplish that aim;
and (3) the execution of those strategies.
C.
and (3) beginning in 2020, report annually to the higher education department and the legislative finance committee on its goals and achievements." SECTION 2.
and (3) beginning in 2020, report annually to the higher education department and the legislative finance h g committee on its goals and achievements." o t hr SECTION 2.
Section 71-9-1 NMSA 1978 (being Laws 2016, Chapter 71, Section 1 and Laws 2016, Chapter 78, Section 1) is amended to read:
Section 71-9-1 NMSA 1978 (being Laws 2016, g e i k Chapter 71, Section 1 and Laws 2016, Chapter 78, Section 1) is h r i s amended to read:
"71-9-1.
h , t, e u g "71-9-1.
SHORT TITLE.--[Sections 1 through 11 of this act] Chapter 71, Article 9 NMSA 1978 may be cited as the "Geothermal Resources Development Act"." e t 17 SECTION 3.
SHORT TITLE.--[Sections 1 through 11 of this e b l e e h act] Chapter 71, Article 9 NMSA 1978 may be cited as the n d d i = = o h "Geothermal Resources Development Act"." l ] b ,d i a º e r i = r SECTION 3.
Section 71-9-3 NMSA 1978 (being Laws 2016, w l n d 18 Chapter 71, Section 3 and Laws 2016, Chapter 78, Section 3) is = = 19 amended to read:
Section 71-9-3 NMSA 1978 (being Laws 2016, t e w d m a n o Chapter 71, Section 3 and Laws 2016, Chapter 78, Section 3) is d m :
a l i a e r 20 "71-9-3.
b e d s º o t n = .223047.5AIC January 26, 2023 (5:25pm) s k m e -3- e a n e d r e l u [ A d amended to read:
DEFINITIONS.--As used in the Geothermal a t m m 21 Resources Development Act:
"71-9-3.
d r e 22 A.
DEFINITIONS.--As used in the Geothermal Resources Development Act:
"correlative rights" means the opportunity c e s k 23 afforded, insofar as is practicable, to each owner or e a n b 24 leaseholder in a geothermal reservoir to produce the owner's or u [ leaseholder's just and equitable share of the geothermal .224923.2 - 3 - SFC/SB 8 resources within such reservoir, being an amount, so far as can be practicably determined and so far as can be practicably obtained without waste, substantially in the proportion that the recoverable geothermal resources of such ownership or lease interest bear to the total recoverable geothermal resources in the reservoir and, for such purpose, to use the owner's or leaseholder's just and equitable share of the natural heat or energy in the reservoir;
A.
"correlative rights" means the opportunity afforded, insofar as is practicable, to each owner or leaseholder in a geothermal reservoir to produce the owner's or leaseholder's just and equitable share of the geothermal resources within such reservoir, being an amount, so far as can be practicably determined and so far as can be practicably obtained without waste, substantially in the proportion that the recoverable geothermal resources of such ownership or lease interest bear to the total recoverable geothermal resources in the reservoir and, for such purpose, to use the owner's or leaseholder's just and equitable share of the natural heat or energy in the reservoir;
"division" means the energy conservation and management division of the energy, minerals and natural resources department;
"division" means the energy conservation and management division of the energy, minerals and natural h resources department;
C.
u » r t h C.
"geothermal development project" means a project using the heat of the earth above one hundred degrees Fahrenheit to generate electricity or otherwise support industrial, commercial or residential uses;
"geothermal reservoir" means an underground g e l i reservoir containing geothermal resources, whether the fluids h r i s in the reservoir are native to the reservoir or flow into or h , e h t u g are injected into the reservoir;
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[C.] D.
e b l e e , gh D.
"geothermal reservoir" means an underground e t 17 reservoir containing geothermal resources, whether the fluids w l n d 18 in the reservoir are native to the reservoir or flow into or = = 19 are injected into the reservoir;
"geothermal resources" means the natural heat of n d d i = = o h the earth in excess of two hundred fifty degrees Fahrenheit, or l ] b ,d i a º r the energy, in whatever form, below the surface of the earth e r = t e w d m a n o present in, resulting from, created by or that may be extracted d m :
a l i a e r 20 [D.] E.
b r e t º o t n = .223047.5AIC January 26, 2023 (5:25pm) s k m e -4- e a n e d r e l u [ A d from this natural heat in excess of two hundred fifty degrees Fahrenheit, and all minerals in solution or other products obtained from naturally heated fluids, brines, associated gases and steam, in whatever form, found below the surface of the earth, but excluding oil, hydrocarbon gas and other hydrocarbon substances and excluding the heating and cooling capacity of the earth not resulting from the natural heat of the earth in excess of two hundred fifty degrees Fahrenheit, as may be used for the heating and cooling of buildings through an on-site geo-exchange heat pump or similar on-site system;
"geothermal resources" means the natural a t m m 21 heat of the earth in excess of two hundred fifty degrees d r e 22 Fahrenheit, or the energy, in whatever form, below the surface c e s k 23 of the earth present in, resulting from, created by or that may e a n b 24 be extracted from this natural heat in excess of two hundred u [ fifty degrees Fahrenheit, and all minerals in solution or other .224923.2 - 4 - SFC/SB 8 products obtained from naturally heated fluids, brines, associated gases and steam, in whatever form, found below the surface of the earth, but excluding oil, hydrocarbon gas and other hydrocarbon substances and excluding the heating and cooling capacity of the earth not resulting from the natural heat of the earth in excess of two hundred fifty degrees Fahrenheit, as may be used for the heating and cooling of buildings through an on-site geo-exchange heat pump or similar on-site system;
[and ] E.
"geothermal resources development project" means a project using geothermal resources to generate electricity or otherwise support industrial, commercial or residential uses;
"person" means an individual or other legal entity, including federal, state or local governments or their agents or instrumentalities." SECTION 4.
"person" means an individual or other legal entity, including federal, state or local governments or their agents or instrumentalities." h g SECTION 4.
Section 71-9-5 NMSA 1978 (being Laws 2016, Chapter 71, Section 5 and Laws 2016, Chapter 78, Section 5) is amended to read:
Section 71-9-5 NMSA 1978 (being Laws 2016, o t hr Chapter 71, Section 5 and Laws 2016, Chapter 78, Section 5) is g e i k amended to read:
"71-9-5.
h r i s "71-9-5.
GENERAL DUTIES, JURISDICTION AND AUTHORITY OF e t 17 THE DIVISION.-- w l n d 18 A.
GENERAL DUTIES, JURISDICTION AND AUTHORITY OF h , t, e u g THE DIVISION.-- e b l e e h A.
The division shall regulate the exploration, = = 19 development and production of geothermal resources on public a l i a e r 20 and private land for the purposes of conservation;
The division shall regulate the exploration, n d d i = = o h development and production of geothermal resources on public l ] b ,d i a º e r i = r and private land for the purposes of conservation;
protection a t m m 21 of correlative rights;
protection t e w d m a n o of correlative rights;
protection of life, health, property, d r e 22 natural resources, the environment and the public welfare;
protection of life, health, property, d m :
and c e s k 23 encouraging maximum economic recovery of the geothermal e a n b 24 resources.
b e d s º o t n = .223047.5AIC January 26, 2023 (5:25pm) s k m e -5- e a n e d r e l u [ A d natural resources, the environment and the public welfare;
The division may require persons seeking to u [ explore, develop or produce geothermal resources to obtain .224923.2 - 5 - SFC/SB 8 permits from the division.
and encouraging maximum economic recovery of the geothermal resources.
The division may require persons seeking to explore, develop or produce geothermal resources to obtain permits from the division.
The division shall allocate and distribute the allowable production, insofar as is practicable, to afford each ownership or lease interest in a geothermal reservoir the opportunity to produce its just and equitable share of the geothermal resources in the reservoir.
The division shall allocate and distribute the allowable production, insofar as is h practicable, to afford each ownership or lease interest in a u » r t h geothermal reservoir the opportunity to produce its just and g e l i equitable share of the geothermal resources in the reservoir.
e t 17 D.
h r i s D.
The division shall have exclusive authority to w l n d 18 regulate injection into geothermal wells pursuant to the = = 19 Geothermal Resources Development Act and shall have exclusive a l i a e r 20 authority over matters related to the protection of natural a t m m 21 resources, property, health and public welfare as they relate d r e 22 to geothermal injection wells.
The division shall have exclusive authority to h , e h t u g regulate injection into geothermal wells pursuant to the e b l e e , gh Geothermal Resources Development Act and shall have exclusive n d d i = = o h authority over matters related to the protection of natural l ] b ,d i a º r resources, property, health and public welfare as they relate e r = t e w d m a n o to geothermal injection wells.
c e s k 23 E.
d m :
b r e t º o t n = .223047.5AIC January 26, 2023 (5:25pm) s k m e -6- e a n e d r e l u [ A d E.
e a n b 24 (1) administer laws and rules relating u [ to geothermal resources, except those laws specifically .224923.2 - 6 - SFC/SB 8 administered by another authority;
(1) administer laws and rules relating to geothermal resources, except those laws specifically administered by another authority;
(2) administer the geothermal projects development fund and the geothermal projects revolving loan fund and ensure that all applicable state economic development incentive programs are used for grants and loans from those funds;
(2) administer the geothermal resources development fund and the geothermal resources revolving loan fund and ensure that all applicable state economic development incentive programs are used for grants and loans from those funds;
"[NEW MATERIAL] GEOTHERMAL PROJECTS DEVELOPMENT FUND CREATED--STUDY GRANTS--PROJECT GRANTS--ANNUAL REPORT.-- A.
"[NEW MATERIAL] GEOTHERMAL RESOURCES DEVELOPMENT FUND CREATED--STUDY GRANTS--PROJECT GRANTS--ANNUAL REPORT.-- h g A.
The "geothermal projects development fund" is created in the state treasury.
The "geothermal resources development fund" is o t hr created in the state treasury.
The fund consists of e t 17 appropriations, income from investment of the fund and any w l n d 18 other money distributed or otherwise allocated to the fund.
The fund consists of g e i k appropriations, income from investment of the fund and any h r i s other money distributed or otherwise allocated to the fund.
= = 19 Balances in the fund at the end of any fiscal year shall not a l i a e r 20 revert to the general fund.
h , t, e u g Balances in the fund at the end of any fiscal year shall not e b l e e h revert to the general fund.
Money in the fund is subject to a t m m 21 appropriation by the legislature.
n d d i = = o h B.
d r e 22 B.
Money in the geothermal resources development l ] b ,d i a º e r i = r fund may be used to make grants of up to two hundred fifty t e w d m a n o thousand dollars ($250,000) for the purposes of studying the d m :
Money in the geothermal projects development c e s k 23 fund may be used to make grants of up to two hundred fifty e a n b 24 thousand dollars ($250,000) for the purposes of studying the u [ costs and benefits of a proposed geothermal development project .224923.2 - 7 - SFC/SB 8 as approved by the secretary of energy, minerals and natural resources.
b e d s º o t n = .223047.5AIC January 26, 2023 (5:25pm) s k m e -7- e a n e d r e l u [ A d costs and benefits of a proposed geothermal resources development project as approved by the secretary of energy, minerals and natural resources.
Money in the geothermal projects development fund may be used to provide grants for financing a geothermal development project approved by the secretary of energy, minerals and natural resources.
Money in the geothermal resources development fund may be used to provide grants for financing a geothermal resources development project approved by the secretary of energy, minerals and natural resources.
Except as provided in Subsection E of this section, money in the geothermal projects development fund may be used pursuant to Subsections B and C of this section only for grants to a political subdivision of the state or to a state university for a geothermal development project.
Except as provided in Subsection E of this section, money in the geothermal resources development fund may be used pursuant to Subsections B and C of this section only for grants to a political subdivision of the state or to a state university for a geothermal resources development project.
Money in the geothermal projects development fund may be used for grants to an Indian nation, tribe or pueblo for the development of a geothermal development project only if the grant application is approved by the secretary of energy, minerals and natural resources.
Money in the geothermal resources development fund may be used for grants to an Indian nation, tribe or pueblo for the development of a geothermal resources development project only if the grant application is approved h by the secretary of energy, minerals and natural resources.
e t 17 F.
u » r t h F.
Geothermal development projects approved by the w l n d 18 secretary of energy, minerals and natural resources under this = = 19 section shall not be exempt from any required permits or a l i a e r 20 permissions under New Mexico or United States law.
Money in the geothermal resources development g e l i fund may be used for administrative and reimbursable costs h r i s incurred by the energy, minerals and natural resources h , e h t u g department subject to the legislative appropriation process.
a t m m 21 G.
e b l e e , gh G.
Money in the geothermal projects development d r e 22 fund may be used for administrative and reimbursable costs c e s k 23 incurred by the energy, minerals and natural resources e a n b 24 department.
Disbursements from the geothermal resources n d d i = = o h development fund shall be made by warrant of the secretary of l ] b ,d i a º r finance and administration pursuant to vouchers signed by the e r = t e w d m a n o secretary of energy, minerals and natural resources or the d m :
u [ H.
b r e t º o t n = .223047.5AIC January 26, 2023 (5:25pm) s k m e -8- e a n e d r e l u [ A d secretary's authorized representative.
Disbursements from the geothermal projects .224923.2 - 8 - SFC/SB 8 development fund shall be made by warrant of the secretary of finance and administration pursuant to vouchers signed by the secretary of energy, minerals and natural resources or the secretary's authorized representative.
H.
I.
(4) money used for administrative and e t 17 reimbursable costs pursuant to Subsection G of this section;
(4) money used for administrative and reimbursable costs pursuant to Subsection F of this section;
w l n d 18 and = = 19 (5) the status of the geothermal projects a l i a e r 20 development fund." a t m m 21 SECTION 6.
and (5) the status of the geothermal resources development fund." h g SECTION 6.
A new section of the Geothermal Resources d r e 22 Development Act is enacted to read:
A new section of the Geothermal Resources o t hr Development Act is enacted to read:
c e s k 23 "[NEW MATERIAL] GEOTHERMAL PROJECTS REVOLVING LOAN FUND e a n b 24 CREATED--PROJECT LOANS--ANNUAL REPORT.-- u [ A.
g e i k "[NEW MATERIAL] GEOTHERMAL RESOURCES REVOLVING LOAN FUND h r i s CREATED--PROJECT LOANS--ANNUAL REPORT.-- h , t, e u g A.
The "geothermal projects revolving loan fund" is .224923.2 - 9 - SFC/SB 8 created in the state treasury.
The "geothermal resources revolving loan fund" e b l e e h is created in the state treasury.
The fund shall consist of appropriations, federal funds received for the purpose of making loans, repayment of loans and interest, gifts, grants and donations made to the fund.
The fund shall consist of n d d i = = o h appropriations, federal funds received for the purpose of l ] b ,d i a º e r i = r making loans, repayment of loans and interest, gifts, grants t e w d m a n o and donations made to the fund.
Income from the fund shall be credited to the fund, and money in the fund shall not revert or be transferred to any other fund at the end of a fiscal year.
Income from the fund shall be d m :
Money in the fund is subject to appropriation by the legislature.
b e d s º o t n = .223047.5AIC January 26, 2023 (5:25pm) s k m e -9- e a n e d r e l u [ A d credited to the fund, and money in the fund shall not revert or be transferred to any other fund at the end of a fiscal year.
Money in the geothermal projects revolving loan fund may be used to provide revolving loans to political subdivisions of the state, state universities, Indian nations, tribes or pueblos, nonprofit organizations and private entities for financing a geothermal development project approved by the secretary of energy, minerals and natural resources.
Money in the geothermal resources revolving loan fund may be used to provide revolving loans to political subdivisions of the state, state universities, Indian nations, tribes or pueblos, nonprofit organizations and private entities for financing a geothermal resources development project approved by the secretary of energy, minerals and natural resources.
e t 17 C.
C.
Geothermal development projects approved by the w l n d 18 secretary of energy, minerals and natural resources under this = = 19 section shall not be exempt from any required permits or a l i a e r 20 permissions under New Mexico or United States law.
Money in the geothermal resources revolving loan fund may be used for administrative and reimbursable costs incurred by the energy, minerals and natural resources department subject to the legislative appropriation process.
a t m m 21 D.
D.
Money in the geothermal projects revolving loan d r e 22 fund may be used for administrative and reimbursable costs c e s k 23 incurred by the energy, minerals and natural resources e a n b 24 department.
Disbursements from the geothermal resources revolving loan fund shall be made by warrant of the secretary of finance and administration pursuant to vouchers signed by h the secretary of energy, minerals and natural resources or the u » r t h secretary's authorized representative.
u [ E.
g e l i E.
Disbursements from the geothermal projects .224923.2 - 10 - SFC/SB 8 revolving loan fund shall be made by warrant of the secretary of finance and administration pursuant to vouchers signed by the secretary of energy, minerals and natural resources or the secretary's authorized representative.
By December 1, 2023, and by December 1 of each h r i s year thereafter, the secretary of energy, minerals and natural h , e h t u g resources shall provide a report to the governor, the e b l e e , gh legislative finance committee and the library of the n d d i = = o h legislative council service regarding:
F.
l ] b ,d i a º r (1) loans approved by the secretary pursuant e r = t e w d m a n o to Subsection B of this section;
By December 1, 2023, and by December 1 of each year thereafter, the secretary of energy, minerals and natural resources shall provide a report to the governor, the legislative finance committee and the library of the legislative council service regarding:
d m :
(1) loans approved by the secretary pursuant to Subsection B of this section;
b r e t º o t n = .223047.5AIC January 26, 2023 (5:25pm) s k m e -10- e a n e d r e l u [ A d (2) the status of repayment obligations for revolving loans made pursuant to Subsection B of this section;
(2) the status of repayment obligations for revolving loans made pursuant to Subsection B of this section;
(3) money used for administrative and reimbursable costs pursuant to Subsection C of this section;
(3) money used for administrative and reimbursable costs pursuant to Subsection D of this section;
and (4) the status of the geothermal resources revolving loan fund." SECTION 7.
and e t 17 (4) the status of the geothermal projects w l n d 18 revolving loan fund." = = 19 SECTION 7.
APPROPRIATIONS.-- A.
EFFECTIVE DATE.--The effective date of the a l i a e r 20 provisions of this act is July 1, 2023.
Six hundred thousand dollars ($600,000) is appropriated from the general fund to the energy, minerals and natural resources department for expenditure in fiscal year to carry out the duties of the energy conservation and management division of the energy, minerals and natural resources department and to administer the geothermal resources development fund.
a t m m 21 - 11 - d r e 22 c e s k 23 e a n b 24 u [ .224923.2
Any unexpended or unencumbered balance remaining at the end of fiscal year 2024 shall revert to the general fund.
h g B.
Five hundred thousand dollars ($500,000) is o t hr appropriated from the general fund to the board of regents of g e i k the New Mexico institute of mining and technology for h r i s expenditure in fiscal year 2024 for geothermal energy research h , t, e u g and development.
Any unexpended or unencumbered balance e b l e e h remaining at the end of fiscal year 2024 shall revert to the n d d i = = o h general fund.
l ] b ,d i a º e r i = r C.
Ten million dollars ($10,000,000) is t e w d m a n o appropriated from the general fund to the geothermal resources d m :
b e d s º o t n = .223047.5AIC January 26, 2023 (5:25pm) s k m e -11- e a n e d r e l u [ A d development fund for expenditure in fiscal year 2024 and subsequent fiscal years to fund geothermal resources development projects.
Any unexpended or unencumbered balance remaining at the end of a fiscal year shall not revert to the general fund.
D.
Fifteen million dollars ($15,000,000) is appropriated from the general fund to the geothermal resources revolving loan fund for expenditure in fiscal year 2024 and subsequent fiscal years to fund geothermal resources development projects.
Any unexpended or unencumbered balance remaining at the end of a fiscal year shall not revert to the general fund.
SECTION 8.
EFFECTIVE DATE.--The effective date of the provisions of this act is July 1, 2023.
-12- h u » r t h g e l i h r i s h , e h t u g e b l e e , gh n d d i = = o h l ] b ,d i a º r e r = t e w d m a n o d m :
b r e t º o t n = .223047.5AIC January 26, 2023 (5:25pm) s k m e e a n e d r e l u [ A d
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Action History

  1. DO PASS committee report adopted

  2. Sent to House Appropriations & Finance Committee

  3. passed Senate

  4. DO NOT PASS, replaced with committee substitute

  5. DO PASS, as amended, committee report adopted

  6. Sent to Senate Conservation Committee & Senate Finance Committee

Sponsors

Sponsorship breakdown

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Sponsors (5)

Co-sponsors (0)

None.

Not signed on (107)

107 members have not signed on to this bill.

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Frequently asked questions

Who sponsors SB 8?
SB 8 is sponsored by Roybal Caballero, Patricia, Griggs, Ron, Ortiz y Pino, Gerald, Pat Woods (Republican), and Elizabeth "Liz" Stefanics (Democrat).
What is the current status of SB 8?
This bill died with 2023 Regular Session. It reached “Passed Senate” and never advanced before the session ended, so it can no longer move — a new version would have to be reintroduced in the current session.
Where can I track SB 8?
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Last checked for changes 2 months ago · updated continuously

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