Community Benefit Fund passes senate finance committee

Today, The New Mexico Senate Finance Committee voted to advance Senate Bill 48, the Community Benefit Fund. The advance of this fund marks a major step towards ensuring that communities statewide have the resources to invest, adapt, and innovate in the face of a changing climate. The fund is being sponsored by Sen. Pro Tempore Mimi Stewart. The Community Benefit Fund is a necessary component of the Clear Horizons Act and would provide $340 million in funding for locally driven projects that improve infrastructure, expand clean energy and create economic opportunities across urban and rural New Mexico. Senator Mimi Stewart urges that we cannot wait until the next natural disaster before we take action. The Community Benefit Fund will put resources directly into the hands of communities so that they can prepare for the future. Senator Stewart states that we are already spending millions of dollars each year responding to natural disasters. The Community Benefit Fund is both a proactive and preventative approach, helping New Mexicans prepare before the next crisis strikes. Senate Bill 48 passed the Senate Finance Committee on a 7-4 party-line vote. With Senate Finance Committee approval, the bill now advances to the full Senate.Action 7 News On The Go: Download our app for free