Santa Fe, NM – Today, the New Mexico Senate has passed Senate Bill 48, the Community Benefit Fund (CBF), a groundbreaking investment in locally-driven projects that will strengthen communities, create jobs, and help New Mexicans adapt to increasing climate challenges.
The Community Benefit Fund is a key component of the state’s long-term vision for resilience and economic growth, directs funding toward projects that enhance energy reliability, modernize infrastructure, and safeguard public health.
The CBF provides $340 million in direct investments to New Mexico communities, ensuring that cities, towns, and rural areas alike have access to funding for clean energy expansion, climate resilience, and workforce development. These investments will help communities take the lead in shaping their own futures, addressing local needs while promoting a stronger, more sustainable economy.
“The Community Benefit Fund is about putting decisions and resources into the hands of local communities,” said Senate Pro Tempore Mimi Stewart (D-Albuquerque), sponsor of SB 48. “We have $1.4 billion in unawarded projects that would improve community resilience, safety, and economic opportunity for New Mexico’s communities. From upgrading infrastructure to investing in energy security, this fund invests in the places New Mexicans call home.”
During the Senate floor debate, Senator Carrie Hamblin (D-Las Cruces) emphasized the bill’s benefits for her district:
“The Community Benefit Fund directly helps my district by funding projects like the La Cueva Trail which provides access to every New Mexican to our beautiful outdoor spaces. These funds are for our communities—whether it’s building charging stations, solar projects, transportation improvements, or modernizing our electrical grid, the Community Benefit Fund is about giving local governments, tribes, and organizations the resources they need to invest in projects that improve the health and wellbeing of our state.”
Projects eligible for CBF funding span across the state and will have an immediate impact on New Mexico’s families and economy. Among the key projects that stand to benefit:
- Mora County Complex Community Center – Providing a hub for disaster response and community services in a county heavily impacted by recent wildfires.
- Kit Carson Electric Microgrid Development – Ensuring energy reliability for rural communities, including life-sustaining power for residents relying on medical equipment.
- City of Jal Affordable Housing Initiative – Constructing energy-efficient, affordable housing in southeastern New Mexico, designed to lower emissions and utility costs for working families.
Senator Cindy Nava (D-Bernalillo) highlighted the importance of using the CBF to fund sustainable and affordable housing for New Mexicans:
“As someone who worked in the U.S. Department of Housing and Urban Development, I saw firsthand the benefits of sustainable housing systems on community resilience, and housing affordability. The Community Benefit Fund is critical to continuing that work. On behalf of New Mexico’s communities, this vote is an important step in investing in our communities.”
Following its successful passage in the Senate on a 23-15 vote, SB 48 now moves to the House, where lawmakers will continue the push to secure these critical investments for New Mexico communities.
For more information on the Community Benefit Fund and the projects it will support, visit www.clearhorizonsnm.org.
###
