BILL ANALYSIS H.B. 545 By: Davis, John Special Purpose Districts Committee Report (Unamended) BACKGROUND AND PURPOSE When private space companies began to form, Texas responded by enacting legislation relating to spaceport development corporations. The creation of spaceport development corporations may be authorized by a county or a combination of one or more municipalities and one or more counties. These corporations have the ability to issue bonds and exercise the power of eminent domain and are exempt from certain taxes. One of the goals of authorizing the creation of a spaceport development corporation was to make an area attractive to private space corporations and their related infrastructure. There is concern that the idea was a little before its time and that the industry and spaceports did not develop to their anticipated potential. However, it is reported that the privatization of space is now a rapidly developing industry and several private companies have shown interest in locating in Texas. Some have already developed a presence in the state. H.B. 545 seeks to encourage the use of the spaceport development corporation by more participating entities. RULEMAKING AUTHORITY It is the committee's opinion that this bill does not expressly grant any additional rulemaking authority to a state officer, department, agency, or institution. ANALYSIS H.B. 545 amends the Local Government Code to add a municipality to the entities eligible to authorize the creation of a spaceport development corporation. EFFECTIVE DATE On passage, or, if the bill does not receive the necessary vote, September 1, 2013.
BILL ANALYSIS
# BILL ANALYSIS
H.B. 545
By: Davis, John
Special Purpose Districts
Committee Report (Unamended)
H.B. 545
By: Davis, John
Special Purpose Districts
Committee Report (Unamended)
BACKGROUND AND PURPOSE When private space companies began to form, Texas responded by enacting legislation relating to spaceport development corporations. The creation of spaceport development corporations may be authorized by a county or a combination of one or more municipalities and one or more counties. These corporations have the ability to issue bonds and exercise the power of eminent domain and are exempt from certain taxes. One of the goals of authorizing the creation of a spaceport development corporation was to make an area attractive to private space corporations and their related infrastructure. There is concern that the idea was a little before its time and that the industry and spaceports did not develop to their anticipated potential. However, it is reported that the privatization of space is now a rapidly developing industry and several private companies have shown interest in locating in Texas. Some have already developed a presence in the state. H.B. 545 seeks to encourage the use of the spaceport development corporation by more participating entities.
RULEMAKING AUTHORITY It is the committee's opinion that this bill does not expressly grant any additional rulemaking authority to a state officer, department, agency, or institution.
ANALYSIS H.B. 545 amends the Local Government Code to add a municipality to the entities eligible to authorize the creation of a spaceport development corporation.
EFFECTIVE DATE On passage, or, if the bill does not receive the necessary vote, September 1, 2013.
BACKGROUND AND PURPOSE
When private space companies began to form, Texas responded by enacting legislation relating to spaceport development corporations. The creation of spaceport development corporations may be authorized by a county or a combination of one or more municipalities and one or more counties. These corporations have the ability to issue bonds and exercise the power of eminent domain and are exempt from certain taxes. One of the goals of authorizing the creation of a spaceport development corporation was to make an area attractive to private space corporations and their related infrastructure. There is concern that the idea was a little before its time and that the industry and spaceports did not develop to their anticipated potential. However, it is reported that the privatization of space is now a rapidly developing industry and several private companies have shown interest in locating in Texas. Some have already developed a presence in the state. H.B. 545 seeks to encourage the use of the spaceport development corporation by more participating entities.
RULEMAKING AUTHORITY
It is the committee's opinion that this bill does not expressly grant any additional rulemaking authority to a state officer, department, agency, or institution.
ANALYSIS
H.B. 545 amends the Local Government Code to add a municipality to the entities eligible to authorize the creation of a spaceport development corporation.
EFFECTIVE DATE
On passage, or, if the bill does not receive the necessary vote, September 1, 2013.