House Joint Memorial 4 requests the New Mexico Institute of Mining and Technology to conduct a study on the benefits and costs associated with direct air capture technology. The study aims to evaluate the potential for sequestering carbon dioxide emissions in New Mexico and to provide recommendations for necessary statutory and rule changes to promote the development of the direct air capture industry within the state. This initiative is part of a broader effort to address climate change and facilitate the transition to net-zero and eventually net-negative greenhouse gas emissions.

The memorial highlights the increasing greenhouse gas emissions and their associated environmental impacts, as well as the favorable conditions in New Mexico for implementing direct air capture technology. It emphasizes the economic benefits that could arise from this industry, including job creation and increased tax revenue. The findings and recommendations from the study are to be reported to the appropriate interim committee focused on natural resources, and a copy of the memorial will be sent to the president of the New Mexico Institute of Mining and Technology.