0001|                           SENATE BILL 121
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0002|     43RD LEGISLATURE - STATE OF NEW MEXICO - SECOND SESSION, 1998
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0003|                            INTRODUCED BY
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0004|                          LEONARD LEE RAWSON
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0005|     
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0006|                                   
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0007|     
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0008|                                   
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0009|     
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0010|                                AN ACT
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0011|     MAKING APPROPRIATIONS TO THE SPACE COMMERCIALIZATION DIVISION
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0012|     OF THE ECONOMIC DEVELOPMENT DEPARTMENT TO MARKET, DEVELOP AND
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0013|     PROVIDE MATCHING FUNDS FOR CONSTRUCTION OF INFRASTRUCTURE FOR
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0014|     A SOUTHWEST REGIONAL SPACEPORT.
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0015|     
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0016|     BE IT ENACTED BY THE LEGISLATURE OF THE STATE OF NEW MEXICO:
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0017|          Section 1.  APPROPRIATION.--Seven hundred thousand
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0018|     dollars ($700,000) is appropriated from the general fund to
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0019|     the space commercialization division of the economic
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0020|     development department for expenditure in fiscal year 1999 for
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0021|     marketing and developing the southwest regional spaceport as a
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0022|     viable commercial endeavor.  Any unexpended or unencumbered
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0023|     balance remaining at the end of fiscal year 1999 shall revert
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0024|     to the general fund.
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0025|          Section 2.  APPROPRIATION--CONTINGENCY.--Eight million
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0001|     six hundred thousand dollars ($8,600,000) is appropriated from
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0002|     the general fund operating reserve to the space
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0003|     commercialization division of the economic development
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0004|     department for expenditure in fiscal year 1999 or in any
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0005|     succeeding fiscal year to provide matching funds not to exceed
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0006|     ten percent of the costs of designing and constructing roads,
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0007|     runways and other infrastructure for a southwest regional
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0008|     spaceport site contingent upon the receipt of the remaining
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0009|     funds for such design and construction from private or federal
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0010|     sources.  The disbursement of any amount of the appropriation
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0011|     is contingent upon certification by the secretary of finance
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0012|     and administration and notification of the legislative finance
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0013|     committee that the disbursement represents not more than ten
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0014|     percent of the proposed expenditure, that a matching amount of
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0015|     private or federal funds equal to at least ninety percent of
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0016|     the proposed expenditure is available within six months of the
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0017|     disbursement and that the contracts for the proposed design or
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0018|     construction are pending and can be executed upon receipt of
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0019|     the money.  Any unexpended or unencumbered balance remaining
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0020|     from this appropriation on July 1, 2004 shall remain in the
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0021|     general fund operating reserve.
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0022|                              
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