House Passes Clean Fuel Bill
The Clean Transportation Fuel Standard would reduce the carbon footprint of fossil fuel production while strengthening the economy
Santa Fe, N.M. - A bill to reduce the carbon footprint of transportation fuels in New Mexico passed the House floor today by a vote of 36-33.
House Bill 41, New Mexico’s Clean Transportation Fuel Standard, would establish benchmarks to reduce the carbon intensity of transportation fuels by 20% before 2030 and by 30% before 2040. The bill would also incentivize the production of lower-emission fuels by offering credits to producers. Fuel producers could buy and sell these credits, creating a market that would strengthen the state’s economy.
The proposal would generate an estimated $470 million in economic investment, including 1,600 permanent jobs and 2,300 construction jobs, as well as a $240 million capital investment in production and manufacturing.
“It’s vital to New Mexico’s future that we take meaningful and pragmatic action to reduce our carbon footprint,” said bill sponsor Rep. Kristina Ortez (D-Taos). “By incentivizing the use of cleaner fuels in high-emission industries like transportation, we can address the impacts of climate change, while also strengthening our economy.”
HB 41 now heads to the Senate. Additional sponsors include Rep. Christine Chandler (D-Los Alamos), House Majority Caucus Chair Raymundo Lara (D-Chamberino), and Senate President Pro Tempore Mimi Stewart (D-Albuquerque).
The Roundhouse is open to the public for the 2024 session. Members of the public can also view floor sessions and committee meetings on the New Mexico Legislature’s Webcasts tab, and provide comment via phone or Zoom as directed on the daily schedule.
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