The "Wildfire Prepared Act" aims to enhance forest conservation and wildfire preparedness in New Mexico by establishing a comprehensive framework for assessing and mitigating wildfire risks. The act creates the "wildfire prepared program," which will provide technical assistance, training, and grants to political subdivisions and qualified entities to help property owners make their residences more resistant to wildfires. The act also establishes the "wildfire prepared fund" to support these initiatives, ensuring that at least fifty percent of grant money is allocated to assist eligible property owners directly.

Additionally, the act expands the Fire Planning Task Force by adding new members and outlining their duties, which include identifying high-risk areas, developing building codes and standards for wildfire preparedness, and reporting progress to the governor and legislature annually. The act also repeals a previous law from 2003 to reconcile conflicting enactments. It emphasizes that the provisions of the Wildfire Prepared Act do not create any enforceable property rights or guarantees of benefits, and it declares an emergency for immediate implementation.