The bill amends the Drinking Water State Revolving Loan Fund Act to enhance the New Mexico Finance Authority's capabilities in providing financial assistance for drinking water facilities. Key provisions include allowing the authority to offer grants for the construction or rehabilitation of drinking water facilities, extending the repayment period for loans, and renewing the authority to transfer up to one-third of certain grants to both the Drinking Water State Revolving Loan Fund and the Wastewater Facility Construction Loan Fund. Additionally, the bill mandates annual reports from the authority, in cooperation with the Department of Environment, on the fund's status and activities.

The bill also redistributes responsibilities between the New Mexico Finance Authority and the Department of Environment, ensuring that both entities work collaboratively on project monitoring and compliance with federal regulations. It establishes criteria for financial assistance, emphasizing the need for local authorities to demonstrate financial capability and technical expertise. The amendments aim to streamline processes, improve funding access, and ensure that drinking water facilities meet safety and operational standards as outlined by the federal Safe Drinking Water Act.

Statutes affected:
introduced version: 6-21A-3, 6-21A-4, 6-21A-5, 6-21A-6, 6-21A-7, 6-21A-8
Final Version: 6-21A-3, 6-21A-4, 6-21A-5, 6-21A-6, 6-21A-7, 6-21A-8