The bill authorizes the New Mexico Finance Authority to provide loans from the Public Project Revolving Fund for various public projects, with loans of $1,000,000 or less not requiring specific authorization. It outlines a broad list of qualified entities eligible for these loans, including municipalities, school districts, and public improvement districts. The projects eligible for funding cover a wide range of needs, such as land acquisition, construction of buildings, infrastructure improvements, and refinancing existing debts. The bill also declares an emergency, highlighting the urgency of accessing these funds for public projects.

Furthermore, the bill specifies that if any qualified entity does not certify its intent to pursue a loan by the end of fiscal year 2028, the legislative authorization for that loan will be voided. It allocates funding for various projects across multiple counties, including those for educational institutions and community services, with specific projects identified for entities like the Jemez Valley public school district and the city of Santa Fe. The comprehensive nature of the bill reflects a commitment to enhancing community infrastructure and services throughout New Mexico, ensuring timely access to financial resources for development and improvement initiatives.