The bill proposes the creation of a new section within the Liquor Control Act that authorizes the issuance of special independent theater dispensing licenses for the sale of beer and wine. This license can be granted to owners or operators of independent theaters, allowing them to serve wine and beer to customers during movie screenings or other events. The bill outlines specific conditions for the license, including that it is contingent upon local governing body approval, limits the amount of alcohol served to customers, and stipulates that the license is non-transferable.

Additionally, the bill defines an "independent theater" as a business primarily focused on exhibiting movies or hosting live events, owned by a New Mexico resident or registered organization, and in operation for at least one year. The effective date for the provisions of this act is set for July 1, 2025.