Water Project Fund

Policy Changes

The Water Trust Board anticipates an increase in funding over the next few years, which will help finance more water projects in New Mexico. Recent changes to the WTB policies are designed to help applicants. A snapshot of those changes can be found here.


Pursuant to the Water Project Finance Act, NMFA provides administrative support to the 16-member Water Trust Board and manages the Water Project Fund on its behalf.  NMFA makes loans and grants for projects recommended by the Water Trust Board and authorized by the Legislature.  With a reliable revenue stream to fund applications annually and a transparent set of policies that guide applicants, the Water Trust Board has become an increasingly sought-after source of funding for a variety of water projects statewide.  

The Water Project Fund annually receives 9% of Senior Severance Tax Bond (“STB”) proceeds as well as a distribution from the Water Trust Fund.  These monies are used to fund a variety of water projects recommended by the Water Trust Board and authorized by the Legislature. Water Trust Board awards are a combination of grants and loans, based upon the financial capacity of the applicants.

Under the Act, there are five project types eligible for consideration of financial assistance:

  1. Water conservation or recycling, treatment or water reuse projects;
    2. Flood prevention projects;
    3. Endangered Species Act (ESA) collaborative projects;
    4. Water storage, conveyance or delivery projects;
    5. Watershed restoration and management projects.

Qualified entities seeking funding for water projects from the Water Trust Board must submit an application each year even if the project has previously received legislative authorization.

Funding from the Water Project Fund is considered pursuant to the comprehensive Project Management Policies and the Water Trust Board Rules. This information may be downloaded through the Resources box to the right.

For more information about the Water Project Fund or how to apply, please email WTBAdmin@nmfa.net.


2024 Water Trust Board Legislative Authorization List
2024 WTB Readiness Training Materials
2024 WTB Application Cycle FAQs
2024 Water Trust Board Notice of Intent
2024 WTB Application Timeline
2024 WTB Application Training Presentation
2023 WTB Funding Recommendations
Office of the State Engineer WTB Compliance Presentation 2024
2023 WTB Awardee Training
2023 WTB Authorization List
2022 WTB Annual Report
2022 WTB Awards
2021 WTB Awards
Water Trust Board Project Management Policies
2019 Water Trust Board Annual Report
2020 WTB Awards
2019 WTB Awards
2018 WTB Annual Report
2018 WTB Awards
2017 Water Trust Board Annual Report (9-30-2017)