Richardson Campaign Press Release - Governor Richardson Enacts Major Clean Energy Bills

Governor Richardson has continued his aggressive efforts to make New Mexico the Clean Energy State, by enacting several bills that promote investment in clean electricity generation and reduce our dependence on foreign oil.

"These bills will keep New Mexico's rapidly growing clean energy economy moving forward," said Governor Richardson. "New Mexico is showing that we can create jobs through spurring significant investment in electricity generation from our world-class solar and wind resources, promoting advanced coal technologies, building more efficient homes and offices, and increasing the production and use of biodiesel."

Bills recently signed are as follows:

• SB 994 (Cisneros) Advanced Energy Tax Credit
• SB 489 (Ortiz y Pino) Biodiesel Blend Required by 2012
• HB 318 (Wirth) Power plant mercury emissions control
• SB 463 (Cisneros) Renewable Energy Production Tax Credit Amendments

SB 994 is the first tax credit in the nation to cover carbon capture technology and include specific capture goals at coal fired power plants. The amount of the advanced energy tax credit will be up to 6 percent of the plant's expenditures for development and construction. The maximum credit claimed per generating facility will be limited to $60 million.

SB 489 will require that 5% of every gallon of diesel fuel sold in New Mexico comes from an agricultural source by 2012. This will help boost New Mexico's growing biodiesel industry, reduce our use of foreign oil and combat climate change.

HB 318 allows New Mexico to continue to protect its citizens from the damaging effects of mercury pollution. Recent moves by the Bush Administration have raised fears of creating mercury "hotspots" where residents will be exposed to harmful levels of this known neurotoxin. This bill allows New Mexico to pass more protective mercury standards than the federal government.

SB 463 contains several tax incentives that were originally proposed as separate bills:

• Renewable Energy Production Tax Credit Amendments (SB 463 – Cisneros)
• Sustainable Building Tax Credit (SB 543 – Feldman/HB 534 – Wirth)
• Advanced Energy Product Tax Credit (HB 430 – Salazar)
• Biodiesel Fuel Production Tax Incentives (SB 607 – Ortiz y Pino/HB 1145 – M.H. Garcia)
• Solar Energy System Gross Receipts (SB 996 – Stewart)
• Agricultural Water Conservation Tax Credits (SB 291 – Wilson Beffort)

"These vital pieces of legislation will work hand in glove with the other major clean energy bills I enacted earlier this session – the Renewable Energy Transmission Authority and the quadrupling of the Renewable Portfolio Standard – to continue to make New Mexico the nation's Clean Energy State," said Governor Richardson.