The bill modifies existing laws to allow the Emergency Medical Services Fund to redirect funds to the New Mexico Finance Authority for loans aimed at purchasing equipment for emergency medical services system improvement projects. This adjustment is designed to enhance funding mechanisms for emergency medical services, enabling municipalities to acquire essential resources for equipment and vehicle purchases. Additionally, the bill repeals a previous law (Laws 2019, Chapter 210, Section 1) to streamline the legal framework governing these financial transactions.

Furthermore, the bill amends Sections 3-31-1 and 4-62-1 of the New Mexico Statutes, clarifying the authority for municipalities and counties to issue various types of revenue bonds, including those for emergency medical services. It establishes a framework for the administration and distribution of the Emergency Medical Services Fund, ensuring that funds do not revert at the end of the fiscal year and mandating that at least seventy-five percent be allocated to local emergency medical services programs. The bill also limits the use of the fund for system improvement projects to no more than twenty-two percent and allows for three percent to be used for administrative costs, with an effective date set for July 1, 2025.

Statutes affected:
introduced version: 3-31-1, 3-31-1.1, 4-62-1.1, 24-10A-3
Final Version: 3-31-1, 3-31-1.1, 4-62-1.1, 4-62-1