SANTA FE, N.M. (AP) - New Mexico lawmakers would channel a small portion of state investments specifically toward renewable energy projects under newly proposed legislation.
A House panel on energy policy took up discussion Thursday of a bill from Democratic state Rep. Sheryl Williams Stapleton to channel 1 percent of a $5 billion trust fund toward investments in solar and wind energy
The bill seeks to invest about $50 million from the state’s Severance Tax Permanent Fund in the renewable energy sector. No immediate action was taken on the bill.
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Democratic lawmakers have introduced a raft of bills to encourage renewable energy development and trim state government’s dependence on income from oil and natural gas.
Also Thursday, a House panel advanced a bill to reduce income taxes for people who invest in home energy-efficiency upgrades.
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