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 adopt rules, policies, and procedures, manage the authority's affairs, and oversee the issuance of revenue bonds. The authority will replace a previously created entity under a joint powers agreement and will succeed to all its assets and liabilities, providing water and wastewater services within its service area.

The authority is granted various powers, 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 authority may issue utility system revenue bonds for acquiring property and improving facilities, with strict regulations on the use of funds. The bill also outlines the governance structure, including the election process for board members, the quorum requirements for meetings, and the conditions under which the board can delegate its powers.