House Memorial 49, introduced by Cathrynn N. Brown, 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, noting that New Mexico has significant potential for electric energy generation due to its abundant natural resources. However, the current infrastructure is outdated, particularly in rural and underserved areas, which necessitates modernization to attract new industries, create jobs, and ensure a reliable electric grid.

The resolution calls for the governor, legislature, and other leaders to prioritize the establishment of such a program. 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 infrastructure improvements. The public regulation commission is further requested to report its findings and recommendations to the appropriate legislative interim committee.