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 memorial emphasizes the importance of removing carbon dioxide from the atmosphere to combat climate change and achieve net-zero greenhouse gas emissions. It highlights the favorable conditions in New Mexico for developing this technology, including geological suitability for carbon storage and resources for low-carbon energy. The study aims to explore the potential economic benefits, such as job creation and increased tax revenue, that could arise from establishing a direct air capture industry in the state.

Additionally, the memorial calls for the Institute to provide recommendations for statutory and rule changes that would facilitate the development of the direct air capture industry. The findings and recommendations from this study are to be reported to the appropriate interim committee focused on natural resources. A copy of the memorial will also be sent to the president of the New Mexico Institute of Mining and Technology to ensure awareness and action on this initiative.