Bill > SB267

This bill mandates the sale of Spaceport America, requiring the spaceport authority and the general services department to develop a marketing plan by October 1, 2015, to attract national and international buyers, ensuring the sale is for fair market value as a spaceport and on the most advantageous terms for the state. During the sale process, the spaceport authority must maintain the property, with the general services department assessing and monitoring its condition, and may direct necessary maintenance. Before the sale closes, legislative approval will be sought, and net proceeds, after sale costs, will be deposited into a special account managed by the New Mexico finance authority to call and pre-pay any outstanding spaceport authority bonds issued under the Spaceport Development Act, with any remaining funds reverting to the general fund. Any property not included in the sale will be transferred to the general services department, and upon confirmation that all bonds are paid, the New Mexico finance authority will certify this to county commissioners, allowing them to repeal the local option spaceport district gross receipts tax and terminate any related spaceport district agreements, with remaining tax revenue going to county general funds.