Today, the New Mexico Senate Finance Committee voted to move forward with Senate Bill 48, known as the Community Benefit Fund. This advancement signifies a significant step towards equipping communities statewide with the necessary resources to invest, adapt, and innovate in response to a changing climate. The fund is sponsored by Sen. Pro Tempore Mimi Stewart. The Community Benefit Fund is a vital part of the Clear Horizons Act and is set to provide $340 million in funding for locally driven projects that enhance infrastructure, expand clean energy, and generate economic opportunities throughout both urban and rural New Mexico. Senator Mimi Stewart emphasizes that we cannot afford to wait for the next natural disaster to take action. The Community Benefit Fund aims to place resources directly in the hands of communities, enabling them to prepare for the future.
Today, the New Mexico Senate Finance Committee voted to move forward with Senate Bill 48, known as the Community Benefit Fund. This advancement signifies a significant step towards equipping communities statewide with the necessary resources to invest, adapt, and innovate in response to a changing climate.
The fund is sponsored by Sen. Pro Tempore Mimi Stewart. The Community Benefit Fund is a vital part of the Clear Horizons Act and is set to provide $340 million in funding for locally driven projects that enhance infrastructure, expand clean energy, and generate economic opportunities throughout both urban and rural New Mexico.
Senator Mimi Stewart emphasizes that we cannot afford to wait for the next natural disaster to take action. The Community Benefit Fund aims to place resources directly in the hands of communities, enabling them to prepare for the future.
Senator Stewart notes that we are already spending millions of dollars annually on natural disaster responses. The Community Benefit Fund takes a proactive and preventative stance, helping New Mexicans prepare for the next crisis before it occurs.
Senate Bill 48 passed the Senate Finance Committee with a 7-4 party-line vote. With the Senate Finance Committee’s approval, the bill now progresses to the full Senate.
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