The bill amends Section 72-14-23 of the New Mexico Irrigation Works Construction Fund, increasing the annual transfer from this fund to the Acequia and Community Ditch Infrastructure Fund from $2.5 million to $5 million. Additionally, it establishes that the New Mexico Irrigation Works Construction Fund is a nonreverting fund in the state treasury, consisting of income from permanent reservoirs for irrigation purposes and any other appropriated funds. The bill also specifies that $1 million will be transferred annually from the construction fund to the Forest Land Protection Revolving Fund.

The changes include the deletion of previous language regarding the fund's creation and its reversion to the general fund, emphasizing its nonreverting nature. The bill is set to take effect on July 1, 2025, ensuring that the increased funding for acequias and community ditches is available for infrastructure improvements.