NM HB316

Creates the "Rural Hospital Malpractice Liability Insurance Act" establishing grants for rural hospitals in New Mexico to cover medical malpractice liability insurance premiums

Appropriates $100,000,000 from the general fund to a newly created nonreverting trust fund, with annual distributions of 5% of the three-year average market value beginning July 1, 2027

Eligible rural hospitals must be located in rural or frontier areas, provide essential health care services in underserved areas, and certify grant funds will be used exclusively for malpractice insurance premiums

Requires the Department of Health to administer the program, develop eligibility criteria and application forms, and submit annual reports to legislative committees on grant recipients and program impacts

Declared an emergency measure to take effect immediately upon passage