This bill establishes a new process for conducting actuarial reviews of proposed health care legislation that may alter coverage requirements for health insurers in New Mexico. The Legislative Finance Committee is tasked with retaining contractors who have expertise in performing these reviews by September 1, 2026. Each member of the legislature will have the opportunity to request an actuarial review of one piece of legislation annually, with specific limits on the number of requests from both majority and minority party members in both the House of Representatives and the Senate. The bill outlines the criteria for eligibility and the necessary components of the actuarial review, which includes estimates on the impact of the proposed legislation on health care costs, utilization rates, and potential health benefits.

Additionally, the bill appropriates $100,000 from the general fund for the Legislative Finance Committee to fund these actuarial reviews in fiscal year 2027. Any unspent funds at the end of that fiscal year will revert to the general fund. The bill aims to enhance the legislative process by providing data-driven insights into the potential effects of health care legislation, thereby supporting informed decision-making by lawmakers.