The bill establishes new regulations regarding the disposal of uranium waste in New Mexico, specifically mandating that uranium tailings and waste from mining, milling, or processing can only be disposed of in federally managed underground facilities designed for hazardous waste containment. This aims to ensure that uranium waste is handled in a manner that meets federal safety and environmental standards.

Additionally, the bill prohibits any state agency from issuing permits for the disposal of uranium waste in any facility that does not meet the criteria of being a federally managed underground depository. This restriction is intended to streamline the disposal process and enhance the safety of waste management practices related to uranium in the state.