New Mexico geothermal bill vetoed by Governor
Flag of New Mexico, USA (source: Denise Womack-Avila / flickr, Creative Commons)
Carlo Cariaga
10 Apr 2023
The proposed Geothermal Resources Development Act, which hopes to promote the geothermal industry in New Mexico, has been vetoed by the Governor.
A proposed bill that aims to promote geothermal energy development in New Mexico, U.S. has been pocket vetoed by Gov. Michelle Lujan Grisham. This comes at the end of the 2023 legislative session where more than 200 measures were signed by the Governor.
We first reported on the proposed Geothermal Resources Development Act or House Bill 365 in early 2023. The proposal seeks to expand the Energy, Minerals, and Natural Resources Department duties to promote the geothermal industry in New Mexico. It will also provide grants and loans for geothermal research and development projects around the state, as well as towards the establishment of a new “Center of Excellence” at the New Mexico Institute of Mining and Technology.
The bill was approved under both legislative chambers with virtually no opposition, with votes of 37-0 in the Senate and 63-3 in the House. Unfortunately, the bill was one of several that were vetoed amidst concerns over the sustainability of several proposed tax cuts and financial incentives.
Source: AP News, Albuquerque Journal, and SourceNM
