SENATE BILL 475
54th legislature - STATE OF NEW MEXICO - first session, 2019
William P. Soules
RELATING TO TAXATION; REQUESTING THE ENERGY, MINERALS AND NATURAL RESOURCES DEPARTMENT TO DRAFT PROPOSED LEGISLATION IMPOSING A CARBON TAX; MAKING AN APPROPRIATION.
BE IT ENACTED BY THE LEGISLATURE OF THE STATE OF NEW MEXICO:
SECTION 1. APPROPRIATION.--Two hundred fifty thousand dollars ($250,000) is appropriated from the general fund to the energy, minerals and natural resources department for expenditure in fiscal year 2020 for the purpose of drafting proposed legislation implementing a comprehensive carbon tax program in New Mexico. Any unexpended or unencumbered balance remaining at the end of fiscal year 2020 shall revert to the general fund.