Sen. Steve Lanier

Maddy summaryThis bill creates a regulatory framework for storing carbon dioxide underground in geologic formations (like rock layers or aquifers) to prevent it from entering the atmosphere. It requires companies (called "operators") seeking to store CO2 to form "sequestration units" covering the necessary land and subsurface pore space, with specific processes for acquiring rights from landowners and submitting detailed applications to the Oil Conservation Division. The law applies to new storage projects after its effective date, excludes projects using CO2 for oil recovery, and establishes the division's authority to enforce rules and approve projects based on geologic evidence and landowner notifications.

Maddy summarySB 398 would provide New Mexico residents who are U.S. citizens and file individual income tax returns with a $500 tax rebate per person, plus $500 per dependent claimed, and an additional $500 for married couples filing jointly. To qualify, residents must have been physically present in New Mexico for at least six months during the tax year and not incarcerated for over six months that year. The rebate reduces tax liability or is refunded if it exceeds the amount owed, applying to tax years starting in 2025. The bill was postponed indefinitely in June 2025 and has not advanced further.

Maddy summaryNew Mexico's HB 458, the "Carbon Dioxide Storage Stewardship Act," establishes a state oversight system for long-term management of underground carbon storage sites. It creates a fund financed by a $0.10-per-metric-ton fee paid by operators of carbon storage facilities, using the money for post-closure monitoring, leak repairs, and site maintenance. The bill requires operators to prove long-term security and safety before transferring stewardship of a site to the state. This directly affects carbon storage operators and state agencies like the Oil Conservation Division, ensuring ongoing responsibility for sites after injection ends.