Terri Cole, President and CEO of the Greater Albuquerque Chamber of Commerce, expressed opposition to House Bill 259 (HB 259), questioning the justification for proposed fee and fine increases related to climate technology. This statement was made during the Legislative RoundUp on February 18.
"Fines, on the other hand, are presumably designed for punishment and deterrence. So what justifies these extraordinary increases," said Cole. "We are very concerned that the proposed adjustments should not be arbitrary but rather backed up with some kind of evidence."
House Bill 259, introduced in the 2025 New Mexico legislative session and titled "State Investment in Climate Technology," aims to allocate state resources toward developing climate technology. This could involve mechanisms such as grants, tax incentives, or increased fees and fines to support initiatives like renewable energy or emissions reduction. As of February 20, 2025, the bill's exact provisions, including funding amounts, specific technologies targeted, or implementation timelines, are not fully detailed on the legislature’s website.
According to the Dallas Federal Reserve, New Mexico's economy grew by 1.1% in the first quarter of 2024, primarily driven by the services sector. However, goods-producing sectors such as manufacturing and construction contracted by 0.5%, highlighting ongoing challenges. The state's population growth has been sluggish with only a 2.3% increase from 2010 to 2023 compared to the national average of 8.3%. Low labor force participation and high poverty rates also present hurdles for economic development.
New Mexico promotes climate action through various incentives and federal support measures. The Solar Market Development Tax Credit covers 10% of solar costs to boost renewable energy efforts. Additionally, $22.99 million in federal grants allocated for 2025 funds Indigenous-led pollution reduction initiatives. A 2024 executive order aims to train 2,000 climate workers by 2026 using state and federal funds while avoiding private-sector costs, according to the New Mexico Environment Department (NMED).
According to their website, Cole has served as President and CEO of the Albuquerque Chamber of Commerce for 39 years and became the first woman to lead a major U.S. chamber. She is also a member of the University of New Mexico Science & Technology Corporation Board since 2004 and has chaired both the New Mexico Workforce Development Board and the Foundation for Open Government.
