DEVELOPMENT OF NEW ELECTRIC TRANSMISSION

House Memorial 49 is a non-binding request asking New Mexico's leaders to study creating a low-interest loan program for electric grid upgrades. It specifically directs state agencies (Public Regulation Commission, Energy Department, Economic Development Department) to form a task force to examine replicating Texas' Powering Texas Forward Act model, which uses performance-based grants and loans for transmission, distribution, and generation infrastructure. The memorial does not create funding but requests a feasibility study, and its progress was stalled when the committee postponed it indefinitely in June 2025.