The bill authorizes the New Mexico Finance Authority to provide loans from the Public Project Revolving Fund for a variety of public projects, which include land acquisition, building construction, and infrastructure improvements such as electric, water, wastewater, solid waste management, and public transportation systems. It specifies that loans of one million dollars or less do not require specific authorization and outlines a comprehensive list of qualified entities eligible for these loans, including municipalities, school districts, and public improvement districts throughout New Mexico.

Additionally, the bill includes a provision that voids the authorization for any qualified entity that does not certify its intent to pursue a loan by the end of fiscal year 2028, ensuring that only those actively seeking funding retain their legislative authorization. This streamlining aims to focus resources on projects that are progressing, reflecting a commitment to enhancing public infrastructure across the state. The bill is declared an emergency measure, emphasizing the urgency of facilitating these loans to support essential public services and facilities.