SENATE MEMORIAL 23

53rd legislature - STATE OF NEW MEXICO - second session, 2018

INTRODUCED BY

William P. Soules

A MEMORIAL

EXPRESSING SUPPORT FOR A STUDY OF CARBON FEE AND DIVIDEND LEGISLATION.

     WHEREAS, the weight of scientific evidence indicates that greenhouse gas emissions from human activities, including the burning of fossil fuels and other sources, are causing rising global temperatures; and

     WHEREAS, the weight of scientific evidence also indicates that a return from the current concentration of more than four hundred parts per million of carbon dioxide in the atmosphere to three hundred fifty parts per million of carbon dioxide or less is necessary to slow or stop the rise in global temperatures; and

     WHEREAS, further increases in global temperatures pose imminent and substantial dangers to human health, the natural environment, the economy and national security and an unacceptable risk of catastrophic impacts to human civilization; and

     WHEREAS, several other states have begun to address greenhouse gas emissions, with carbon pricing bills already introduced in Massachusetts, Rhode Island, Washington, New York, Oregon, California and Vermont, with various active campaigns in other states; and

     WHEREAS, carbon fee and dividend legislation could be considered as a component of the New Mexico energy roadmap, a project created to define the steps needed to move to a more diverse energy portfolio while improving economic outcomes for New Mexico; and

     WHEREAS, phasing in carbon fees on greenhouse gas emissions is the most efficient, transparent and enforceable mechanism to drive an effective and fair transition to a low-carbon energy economy, stimulate investment in alternative energy technologies and give all businesses powerful incentives to increase their energy efficiency and reduce their carbon footprints in order to remain competitive; and

     WHEREAS, equal monthly dividends from one hundred percent of the net carbon fees will be paid to every New Mexico household to help ensure that families and individuals can afford the energy they need during the transition to a low-carbon economy, which will also stimulate the economy;

     NOW, THEREFORE, BE IT RESOLVED BY THE SENATE OF THE STATE OF NEW MEXICO that a study of carbon fee and dividend legislation be supported; and

     BE IT FURTHER RESOLVED that the appropriate legislative interim committee study how a possible state revenue-neutral carbon fee could be implemented in New Mexico and its effects on the economy, jobs, health and greenhouse gas emissions; and

     BE IT FURTHER RESOLVED that copies of this memorial be transmitted to the co-chairs of the New Mexico legislative council.

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