This bill authorizes the New Mexico Finance Authority to issue and sell revenue bonds to fund improvements at the Gila Regional Cancer Center and Nor-Lea General Hospital. Specifically, it allows for the issuance of bonds totaling up to $3 million for the Gila Regional Medical Center and $1.5 million for the Nor-Lea General Hospital, with additional provisions for further funding based on the certification of need by the respective boards of trustees. The net proceeds from these bonds are appropriated to the local government division of the Department of Finance and Administration for the specified purposes.

Additionally, the bill introduces new provisions allowing for the issuance of up to $5,735,316 in revenue bonds for further enhancements at the Gila Regional Medical Center, including the purchase of equipment and renovations. It also establishes that cigarette tax proceeds will be irrevocably pledged for the payment of these bonds and outlines the conditions under which these funds can be utilized. The bill ensures that any changes to the cigarette tax laws will not impair the debt service coverage for the bonds, thereby protecting the financial interests of the bondholders.