This bill aims to enhance public finance in New Mexico by appropriating a total of $300 million from the general fund for various economic development initiatives over the fiscal years 2027 through 2029. Key allocations include $9 million to the Outdoor Equity Grant Program Fund, $111 million to the Research, Development, and Deployment Fund, and significant funding for innovation hubs in advanced energy, defense technology, bioscience, and aerospace. The bill also emphasizes workforce development, with $37.5 million allocated for advanced energy entrepreneurs and trade associations, and similar funding for quantum-related initiatives. Other notable appropriations include $60 million for faculty endowments in relevant fields, $30 million for a Trails Plus Grant Program, and $9 million for an Indigenous Film Festival.

Additionally, the bill designates $135 million to the economic development department for the Quantum New Mexico Institute at the University of New Mexico, which will address challenges in artificial intelligence and quantum technology. Other allocations include $18 million for STEM initiatives, $75 million for marketing economic development and cultural events, and $12 million for the New Mexico partnership and bioscience authority. Importantly, any unexpended balances from these appropriations will revert to the general fund at the end of fiscal year 2029, ensuring that unused funds are returned to the state budget. This comprehensive funding strategy is designed to foster growth and innovation across multiple sectors in New Mexico.