NM HB85

Creates the "medical provider recruitment trust fund" in the state treasury, with investments managed by the state investment officer under the prudent investor rule and annual distributions of 5% of the three-year average year-end market value beginning July 1, 2027

Establishes the "medical provider recruitment program fund" as a nonreverting fund administered by the higher education department to provide loan-for-service and loan repayment programs for physicians, physician assistants, and advanced practice nurses who serve in underserved areas

Prioritizes loan repayment applicants who graduated from New Mexico state universities or bordering states agreement universities, and participants committed to serving as primary care providers in family medicine, general internal medicine, or general pediatrics

Transfers $5 million from the general fund to the trust fund in fiscal year 2026 and appropriates $1 million to the program fund for expenditure beginning in fiscal year 2027

Allows trust fund money to be transferred to the general fund only to avoid an unconstitutional deficit after exhausting the appropriation contingency fund, general fund operating reserve, and tax stabilization reserve