NMFA WATER PROJECT FUND

SB 187 appropriates $222 million from the state general fund to the New Mexico Finance Authority's Water Project Fund for water projects authorized by the 2026 legislature. The funds must be spent by the end of fiscal year 2027, with any unused balance reverting to the general fund. This bill directly affects the state's water infrastructure projects by providing dedicated funding for approved initiatives. It does not change policy but enables specific water-related projects through a one-time budget allocation.