NOTE: As provided in LFC policy, this report is intended for use by the standing finance committees of the legislature.  The Legislative Finance Committee does not assume responsibility for the accuracy of the information in this report when used in any other situation.

Only the most recent FIR version, excluding attachments, is available on the Intranet. Previously issued FIRs and attachments may be obtained from the LFC office in Suite 101 of the State Capitol Building North.

(Parenthesis ( ) Indicate Expenditure Decreases)

Duplicates/Relates to Appropriation in The General Appropriation Act for the Technology Commercial Program of the Economic Development Department

SOURCES OF INFORMATION

Economic Development Department

LFC Files

SUMMARY

Synopsis of Bill

House Bill 243 appropriates $1.5 million from the general fund to the Economic Development Department to develop the southwest regional spaceport.

Significant Issues

The bill will provide resources for the Economic Development Department to conduct an environmental impact statement update, obtain water resources, and provide for additional contractual services. The appropriation is contingent upon New Mexico being selected one of three competing sites for the Lockheed Martin VenturStar, a similar reusable launch vehicle, or other launch system developer.

The agency indicates the following amounts will be expended for these purposes:

Environmental Impact Statement Update $600.0

Water Resources $400.0

Other Contractual Services $500.0

Total $1,500.0

FISCAL IMPLICATIONS

The appropriation of $1,500.0 contained in this bill is a recurring expense to the general fund and is appropriated for expenditure in fiscal years 2002 through 2004. Any unexpended or unencumbered balance remaining at the end of fiscal year 2004 shall revert to the general fund.

MW/ar