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 creditable to the permanent reservoirs for irrigation purposes income fund and any other appropriated money. The bill also specifies that $1 million will be transferred annually from the construction fund to the Forest Land Protection Revolving Fund.

The effective date for the provisions of this act is set for July 1, 2025. The changes aim to enhance funding for community irrigation infrastructure and forest land protection, reflecting a commitment to improving water management and environmental conservation in New Mexico.