The bill establishes a Medical Provider Recruitment Trust Fund and a Medical Provider Recruitment Program Fund in New Mexico to increase the number of healthcare providers, including physicians, physician assistants, and advanced practice nurses, particularly in underserved areas. The trust fund will consist of various sources such as appropriations, investments, and donations, and will provide distributions to the program fund. The state investment officer is tasked with managing the trust fund's investments and reporting on them quarterly. Additionally, the bill outlines that on July 1 of each year, a distribution will be made from the trust fund to the program fund based on the fund's average market value over the previous three years.

The Medical Provider Recruitment Program Fund will support loan repayment and loan-for-service programs for healthcare providers who commit to serving in designated underserved areas. The fund will prioritize applicants with degrees from New Mexico institutions and those willing to work as primary care providers. The bill also includes a financial provision, transferring $5 million from the general fund to the trust fund and appropriating $1 million to the program fund for fiscal year 2027 and beyond, ensuring that any unspent funds do not revert to the general fund.