The bill establishes the "Camino Real Regional Utility Authority" as a new special district in New Mexico, governed by a board of seven elected members who are water consumers residing within the authority's service area. The board will conduct elections in accordance with the Local Election Act, and members will serve staggered terms. The authority is granted various powers, including the ability to sue, enter contracts, issue revenue bonds, and manage water and wastewater services. The board has specific non-delegable powers, such as adopting rules and policies, ratifying property acquisitions, and establishing fees and rates.

Additionally, the authority is defined as a public body separate from the city of Sunland Park and Dona Ana County, succeeding a previously established entity and inheriting its assets and liabilities. The authority is not subject to the Public Regulation Commission or the Public Utility Act. It can issue utility system revenue bonds for financing improvements to water and wastewater facilities, with strict regulations on the use of funds and tax exemptions for the bonds. The bill outlines the authority's operational framework, including governance, financial management, and compliance with state laws.