The bill amends Section 72-14-23 of the New Mexico Irrigation Works Construction Fund to increase the annual transfer amount from the fund to the Acequia and Community Ditch Infrastructure Fund. Specifically, the transfer amount is raised from $2,500,000 to $5,000,000. Additionally, the bill introduces a new provision that mandates an annual transfer of $1,000,000 from the New Mexico Irrigation Works Construction Fund to the Forest Land Protection Revolving Fund. The language regarding the fund's status as a continuing fund that does not revert to the general fund has been removed, and the fund is now described as a nonreverting fund in the state treasury.

The effective date for the provisions of this act is set for July 1, 2025. The bill aims to enhance funding for infrastructure related to acequias and community ditches, as well as support forest land protection efforts, thereby addressing critical water management and environmental concerns in New Mexico.