INNOVATION IN STATE GOVERNMENT FUND

SB 83 creates a dedicated $10 million "Innovation in State Government Fund" (transferred from the General Fund) to help New Mexico state agencies advance climate and sustainability goals. The fund directly supports seven agencies - including the Environment Department, Energy Department, and Transportation Department - with specific allocations to develop climate action plans, achieve net-zero emissions, and implement sustainable economic policies that diversify revenue beyond natural resource extraction. Agencies must submit annual reports detailing fund use, and unspent balances after fiscal year 2027 revert to the fund. This law, signed into effect in April 2025, provides concrete financial mechanisms for agencies to address climate policy implementation without altering existing tax structures.