The bill amends existing laws to allow funds from the Emergency Medical Services Fund to be redirected to the New Mexico Finance Authority for loans aimed at purchasing equipment for emergency medical services system improvement projects. This change is designed to enhance the capabilities of emergency medical services by improving access to necessary equipment. Additionally, the bill repeals a previous law (Laws 2019, Chapter 210, Section 1) to reconcile multiple amendments, ensuring clarity and consistency in the legal framework governing these financial transactions.

Moreover, the bill outlines the authority for municipalities and counties to issue various types of revenue bonds, including emergency medical services bonds, which can be used for purchasing equipment and vehicles. It allows municipalities and counties to pledge revenues from the Emergency Medical Services Fund to secure bond payments. The bill establishes a framework for the fund's administration, ensuring that at least seventy-five percent of the fund supports local emergency medical services, while also setting limits on the use of remaining funds for system improvement projects and administrative costs. The provisions of the bill are set to take effect on 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