The bill establishes the "space commission working group" in New Mexico, tasked with studying the feasibility of creating a space commission and drafting a proposal for its structure and scope. The working group will consist of six members appointed by various state officials, including the governor and legislative leaders, with a focus on individuals experienced in commercial aerospace, civil aviation, and related fields. Appointments must be made by July 1, 2026, and the group is required to meet at least once a month. The working group will elect a chair and operate with a quorum of a majority of its members.

The working group is responsible for developing a report that includes recommendations on establishing a space commission, identifying key stakeholders in the aerospace industry, creating a strategic plan detailing the commission's authority and responsibilities, and designing a board of directors for the commission. The final report is due by October 1, 2026, to the interim legislative committee on economic development. Members will receive per diem and mileage compensation, and the economic development department will provide necessary support. The working group is set to dissolve on December 31, 2026.