SPACEPORT DISTRICT FUND INVESTMENT

HB 261 requires Regional Spaceport Districts in New Mexico to use the State Investment Council or State Treasurer to manage their funds, directing them to invest in a designated local government investment pool. This bill directly affects spaceport districts that manage public funds related to regional spaceport operations. The key provision mandates that district boards must employ state investment services for managing their assets, including paying reasonable management fees from the funds themselves, while maintaining required investment records. The change applies to existing district funds and takes effect July 1, 2025. The bill was referred to committees but was postponed indefinitely in June 2025.