Senate Memorial 3 recognizes the watershed health benefits provided by North American beaver populations and requests the development of a statewide beaver management plan in New Mexico. The memorial highlights the state's arid climate, ongoing drought, and the importance of maintaining watershed health to support local communities, agriculture, and wildlife. It emphasizes the ecological advantages of beaver dams and ponds, which enhance groundwater storage, improve water quality, and bolster the resilience of riparian zones during drought conditions.

The memorial calls upon the Department of Game and Fish, the Forestry Division of the Energy, Minerals and Natural Resources Department, and the State Land Office to collaboratively develop recommendations for the statewide beaver management plan. These recommendations should outline the lead agency for the plan's development, identify relevant stakeholder groups, and provide a timeline and budget. The agencies are also requested to present their findings to the appropriate interim committee or committees by October 1, 2025.