Summary:

 House Bill 524 (HB 524) creates a program for the awarding of advance purchase commitments for the purchase, three or more years in the future, of low-emissions cement, concrete, asphalt binder or asphalt mixtures. 

 

Legislation Overview:

 House Bill 524 (HB 524) creates a program in the Department of Transportation for the awarding of advance purchase commitments with the objective of encouraging innovation and emissions reductions and establishing market demand for low-emissions cement, concrete, asphalt binder or asphalt mixtures. It mandates that certain information including an environmental product declaration or a life cycle assessment of the product, consistent with certain organizations’ standards, when there is not sufficient production to generate an environmental product, or a preliminary environmental product declaration that DOT will verify within a year of fulfillment of delivery of materials pursuant to the advance purchase commitment be submitted.
HB 524 orders the DOT to confirm that these products meet certain threshold requirements established un the federal Energy Independence and Security Act and meet all technical
specifications and requirements established by the DOT.   
HB 524 requires the DOT to establish priorities for making the awards based on four factors reduction of greenhouse gases in the production of the products; anticipated suitability for the project; potential for increasing the availability of or financing of these materials in NM; and the utilization or mineralization of carbon dioxide under certain circumstances. It allows the secretary of transportation the discretion to assign a contract entered into or material purchased pursuant to this section to a local transportation authority.
HB 524 defines department and advance purchase commitment. The latter means a binding commitment to purchase a specified minimum of certain materials at a specified minimum price 
three or more years in the future.