The bill amends the Drinking Water State Revolving Loan Fund Act to enhance the New Mexico Finance Authority's (NMFA) ability to support drinking water facilities. Key provisions include allowing the NMFA to provide grants for the construction or rehabilitation of drinking water facilities, extending the repayment period for loans made under the Act, 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 NMFA is required to collaborate with the Department of Environment to produce annual reports on the fund's status and activities.

The bill also redistributes responsibilities between the NMFA and the Department of Environment, ensuring that both entities work together to monitor and support drinking water facility projects. 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 compliance with federal regulations, ultimately enhancing the quality and reliability of drinking water systems in New Mexico.

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