The bill establishes the "Camino Real Regional Utility Authority" as a new public body politic and corporate, separate from the city of Sunland Park and Dona Ana County. It will be governed by a board of directors consisting of seven elected members who are water consumers residing within the authority's service area. The board will have the power to conduct elections, fill vacancies, and manage the authority's operations, including the issuance of revenue bonds for funding water and wastewater services. The authority will replace a previously existing entity created by a joint powers agreement and will inherit its assets, liabilities, and service area.

The authority is granted extensive powers to manage water and wastewater services, including the ability to sue, enter contracts, borrow money, and exercise eminent domain for necessary infrastructure. It is not subject to the jurisdiction of the public regulation commission or the Public Utility Act. The bill also outlines the authority's financial operations, including the issuance of utility system revenue bonds, which are exempt from state taxation. The board must adhere to specific governance rules and can delegate certain powers, while maintaining non-delegable powers that require a supermajority vote for action.