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 five members appointed by the governor, lieutenant governor, and the speaker of the house, 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. They will develop a report detailing their recommendations, including the feasibility of the commission, identification of stakeholders, a strategic plan, and a proposed board of directors.

Additionally, the bill appropriates $200,000 from the general fund to the economic development department for the fiscal year 2027 to support the working group's activities. Members of the working group will receive per diem and mileage but no other compensation. The economic development department is also tasked with providing necessary staff and administrative support, including the potential hiring of one staff member to assist the group. The final report with findings and recommendations is due by October 1, 2026.