The bill prohibits political subdivisions in New Mexico from imposing minimum parking mandates for residential, commercial, or industrial properties. A "minimum parking mandate" is defined as any law, rule, or ordinance that requires a specified minimum number of off-street vehicle parking spaces, including those in garages or enclosed areas.

However, the bill creates an exception that allows political subdivisions to establish minimum parking mandates specifically for accessible parking spaces. This ensures that while general parking requirements are eliminated, provisions for accessible parking remain intact.