The bill establishes the "Unleaded Aviation Fuel Grant Program" within the New Mexico Department of Transportation, specifically managed by the aviation division. This program aims to provide competitive grants, not exceeding $200,000 each, to eligible applicants for the installation of unleaded aviation fuel dispensing systems at publicly owned airports that currently lack such facilities. Eligible applicants include publicly owned airports, political subdivisions of the state, and Indian nations, tribes, and pueblos. The aviation division will oversee the grant process, ensuring that funds are utilized promptly for the intended purpose.

Additionally, the bill creates the "Unleaded Aviation Fuel Grant Program Fund" as a nonreverting fund in the state treasury, which will consist of various financial sources such as appropriations and donations. The fund is appropriated $5 million from the general fund for use in fiscal year 2027 and beyond, with any unspent balance not reverting to the general fund. The provisions of this act are set to take effect on July 1, 2026.