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Committee tables memorial seeking study of private equity ownership of utilities after wide public debate
Summary
House Memorial 6, which would have directed the Legislative Finance Committee to study private equity involvement in critical utilities and whether the state should consider an ownership stake, drew extensive public testimony for and against and was tabled by the committee (final tabling vote recorded 8‑3).
Lawmakers on the House Commerce and Economic Development Committee tabled House Memorial 6, a proposal requesting a study of private equity ownership in essential utilities and the feasibility of state equity involvement. The session featured extended public comment from advocacy groups, legal experts and industry representatives who sharply disagreed about the need for and possible consequences of such a study.
The sponsor presented the committee substitute as a request for the Legislative Finance Committee to evaluate private equity involvement in critical New Mexico utilities and to explore whether the state should consider taking an equity stake in such companies. The sponsor emphasized the measure was a study, not a directive to buy or nationalize utilities.
Proponents urged caution about private equity…
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