The proposed bill enacts the "Interstate Medical Licensure Compact" in New Mexico, facilitating a streamlined process for physicians to obtain licensure across 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 eligibility criteria for expedited licensure, an application process, and requirements for maintaining and renewing licenses. The compact also establishes a coordinated information system for sharing disciplinary actions and investigative information among member states, ensuring that actions taken against a physician in one state are recognized in others.

Additionally, the bill outlines the governance structure of the interstate commission, detailing the roles and responsibilities of its members, including the appointment of two licensed physicians from the New Mexico medical board by the governor—one medical doctor and one osteopathic physician. It mandates that the commission meet at least once a year, with provisions for telecommunication meetings and public notice to ensure transparency. The bill also specifies the procedures for a state to withdraw from the compact, requiring a statute for withdrawal and notification to the interstate commission, while maintaining obligations until the effective date of withdrawal. Furthermore, it mandates that the interstate commission file its current bylaws and rules with the state records administrator, reinforcing adherence to the State Rules Act.