The bill proposes an appropriation of $222 million from the general fund to the New Mexico finance authority specifically for the water project fund. This funding is designated for expenditure in the fiscal years 2025 and 2026, aimed at supporting water projects that have been authorized by the legislature during the first session of the fifty-seventh legislature.

Additionally, the bill stipulates that any unexpended or unencumbered balance remaining at the end of fiscal year 2026 will not revert back to the general fund, ensuring that the allocated funds can be utilized fully for the intended water projects without the risk of losing them at the end of the fiscal period.