MAKING AN APPROPRIATION TO THE SPACE COMMERCIALIZATION DIVISION OF THE ECONOMIC DEVELOPMENT DEPARTMENT TO CONDUCT ENVIRONMENTAL IMPACT STUDIES, OBTAIN WATER RESOURCES AND DEVELOP A PROPOSAL IN RESPONSE TO LOCKHEED MARTIN'S SITE SELECTION PROCESS; DECLARING AN EMERGENCY.

BE IT ENACTED BY THE LEGISLATURE OF THE STATE OF NEW MEXICO:

Section 1. APPROPRIATION.--One million eight hundred ten thousand dollars ($1,810,000) is appropriated from the general fund operating reserve to the space commercialization division of the economic development department for expenditure in fiscal years 1999, 2000 and 2001 for the purpose of developing the southwest regional spaceport to conduct environmental impact studies, obtain water resources and develop a proposal in response to Lockheed Martin's site selection process. Expenditure of these funds shall be contingent upon the state receiving a written commitment from Lockheed Martin that New Mexico is one of three finalists in the competition for site selection. Any unexpended or unencumbered balance remaining at the end of fiscal year 2001 shall remain in the general fund operating reserve.

Section 2. EMERGENCY.--It is necessary for the public peace, health and safety that this act take effect immediately.