Democratic leaders in the state Legislature announced an agreement Tuesday for support of a bill to would provide limited immunity from lawsuits for those who supply parts used at Spaceport America.

Senate Majority Leader Michael Sanchez, D-Belen, and House Speaker Ken Martinez, D-Grants, announced that representatives from Virgin Galactic and the New Mexico Trial Lawyers Association have reached an agreement that resolves their differences regarding liability issues.

Without the legislation, proponents argued that Virgin Galactic and potential occupants of the spaceport would favor other states with limited-liability laws. The New Mexico Trial Lawyers Association expressed concern that limiting liability would protect manufacturers who produced substandard parts without fear of consequences.

More than $200 million has already been invested in the facility located near Truth or Consequences.

"Too much has been invested by both the state and Virgin Galactic to abandon this project," Sanchez said. "The potential economic benefits for New Mexico demanded that serious negotiations be conducted to get beyond the impasse. It is in New Mexico's best interests that the spaceport project moves forward quickly, with as much consumer protection as possible."

The bill is being carried by Senate President pro tem Mary Kay Papen, D-Las Cruces.