The proposed joint resolution seeks to amend the New Mexico Constitution by adding a new section to create the "Early Childhood Trust Fund." This fund will be established as a permanent trust within the state treasury, specifically designated for prenatal and early childhood programs and services for children up to kindergarten age. The resolution stipulates that the fund's money will be invested according to the law, and distributions from the fund can only be used for the specified programs, their administration, and under certain conditions outlined in the resolution.

Additionally, the resolution outlines the financial management of the fund, including that all contributions and earnings will be credited to the fund's corpus. An annual distribution will be made, calculated as either five percent of the average market value of the fund over the previous three years or a fixed amount of $500 million, whichever is greater. In cases where state revenues fall short of meeting authorized appropriations, the legislature may draw from the fund to cover necessary expenses, but only after exhausting other state fund balances. The resolution will be presented to the public for approval in the next general election or a special election prior to that date.