The bill enacts the "Interstate Medical Licensure Compact" (IMLC) in New Mexico, which aims to streamline the licensure process for physicians across member states. It establishes a framework for appointing New Mexico compact commissioners and requires the public posting of the interstate commission's bylaws and documents. The compact facilitates expedited medical licenses for eligible physicians, allowing them to practice in multiple states without undergoing the full licensure process in each. The bill outlines eligibility criteria, the application process, and the responsibilities of the interstate commission, including managing the compact and overseeing disciplinary actions.

Additionally, the bill amends the Medical Practice Act to incorporate provisions related to the IMLC, asserting that it will be interpreted broadly and supersedes conflicting state laws. It prohibits employers from requiring physicians to seek licensure through the IMLC as a condition of employment and mandates the appointment of two licensed physicians to the IMLC commission by the governor. The bill also emphasizes the jurisdiction of the state where the patient is located and allows state medical boards to impose adverse actions against licenses issued under the compact. A contingent repeal clause is included, which would invalidate the bill's provisions if a court finds that the IMLC conflicts with state law regarding the scope of practice or definitions of unprofessional conduct.