The bill establishes the "Horse Racing Integrity and Safety Authority and Jockey and Exercise Rider Insurance Fund" as a nonreverting fund within the state treasury. This fund will be financed through various sources, including money collected by the commission to cover the costs of jockey and exercise rider insurance, as well as compliance with applicable federal and state laws. The fund will also receive income from investments, gifts, grants, donations, and bequests. The commission will administer the fund, and the appropriated money will be used specifically for the costs associated with compliance as outlined in Section 60-2E-47 NMSA 1978.

Additionally, the bill outlines the process for disbursements from the fund, which will be executed by the secretary of finance and administration based on vouchers signed by the executive director of the commission or their designee. This legislative action aims to enhance the safety and integrity of horse racing while ensuring that jockeys and exercise riders have the necessary insurance coverage.