This bill proposes a transfer of funds from the general fund to support rural libraries in New Mexico. Specifically, it allocates twenty-nine million five hundred thousand dollars ($29,500,000) to the rural libraries endowment fund, which is intended to enhance resources and services for libraries in rural areas.

The legislation aims to strengthen the infrastructure and accessibility of library services in less populated regions, ensuring that these communities have the necessary support for educational and informational resources. The transfer of funds is a significant investment in the future of rural libraries, promoting literacy and learning opportunities across the state.