House Memorial 49 requests the consideration and study of establishing a performance-based and low-interest loan program aimed at financing upgrades and the development of new electric transmission, distribution, and generation infrastructure in New Mexico. The memorial highlights the importance of the state's electric grid and energy infrastructure for the well-being and economic prosperity of its residents. It notes that New Mexico has significant potential for electric energy generation due to its abundant natural resources but currently faces challenges with outdated and vulnerable transmission and distribution systems, particularly in rural and underserved areas.

The resolution calls for the governor, legislature, and other leaders to prioritize the establishment of a program to enhance the state's electric grid. It also requests the public regulation commission to collaborate with the energy, minerals and natural resources department and the economic development department to form a task force that will study the state's electric infrastructure needs and the feasibility of implementing a program similar to Texas's Powering Texas Forward Act. This program would provide performance-based grants and low-interest loans for necessary upgrades and developments in electric infrastructure. The public regulation commission is further tasked with reporting its findings and recommendations to the appropriate legislative interim committee.