STUDY STATE PURCHASE OF UTILITIES

Senate Memorial 9 requests the Legislative Finance Committee to study whether New Mexico state investment funds should purchase equity in New Mexico Gas Company and TXNM Energy (parent of PNM), examining financial, environmental, and economic impacts. The study must be completed by December 2026, including input from agencies like the Public Regulation Commission, and requires the commission to delay private equity acquisition approvals until the study concludes. This procedural resolution does not change policy but directs a review of potential state ownership for revenue diversification and influence over utility operations.