The bill authorizes the New Mexico Finance Authority to provide loans from the Public Project Revolving Fund for a variety of public projects, with loans of one million dollars or less not requiring specific authorization. It establishes a list of qualified entities eligible for these loans, including municipalities, school districts, and public improvement districts, and outlines a range of eligible projects such as land acquisition, building construction, infrastructure improvements, and refinancing of existing debts. The bill emphasizes the urgency of these financial provisions by declaring an emergency, reflecting a commitment to enhancing public infrastructure and services across the state.

Additionally, the bill includes a provision that voids the authorization for funding if a qualified entity does not certify its desire to pursue a loan by the end of fiscal year 2028, ensuring that only actively interested entities retain their legislative authorization. The funding is aimed at various projects across multiple counties, including educational facilities, public transportation systems, and community services, with specific projects identified for funding in locations such as Rio Rancho and Grants. This comprehensive approach ensures a broad distribution of resources to meet diverse community needs while promoting financial stability through refinancing options.