The proposed bill enacts the "Interstate Medical Licensure Compact" in New Mexico, creating a streamlined process for physicians to obtain licensure in multiple states. This compact aims to improve healthcare access by allowing physicians to practice across state lines while preserving the regulatory authority of state medical boards. Key provisions include the establishment of an interstate commission to oversee the compact, eligibility criteria for expedited licensure, and a coordinated information system for tracking licensed physicians. The bill emphasizes that it does not alter existing state medical practice acts and mandates member states to report any public actions or complaints against licensed physicians to maintain medical standards and patient safety.

Additionally, the bill outlines the governance structure of the interstate commission, detailing the appointment of commissioners from each member state, including two licensed physicians appointed by the governor of New Mexico—one medical doctor and one osteopathic physician. It specifies the commission's operational procedures, including meeting requirements, voting rights, and public access to meetings. The bill also addresses enforcement mechanisms for member states, including processes for addressing defaults and dispute resolution. It establishes a one-year notice period for a state to withdraw from the compact and outlines the conditions for reinstatement, ensuring transparency by requiring the commission to file its bylaws and rules with the state records administrator.