| Old | New | Differences | |
|---|---|---|---|
| 1 | 1 | 89R9103 CJD-D | |
| 2 | 2 | By: Gerdes H.B. No. 3045 | |
| 3 | 3 | ||
| 4 | 4 | ||
| 5 | 5 | ||
| 6 | 6 | ||
| 7 | 7 | A BILL TO BE ENTITLED | |
| 8 | 8 | AN ACT | |
| 9 | 9 | relating to a franchise tax exemption for corporations operating a | |
| 10 | 10 | spaceport for certain national defense purposes. | |
| 11 | 11 | BE IT ENACTED BY THE LEGISLATURE OF THE STATE OF TEXAS: | |
| 12 | 12 | SECTION 1. Subchapter B, Chapter 171, Tax Code, is amended | |
| 13 | 13 | by adding Section 171.089 to read as follows: | |
| 14 | 14 | Sec. 171.089. EXEMPTION-SPACEPORT USED FOR NATIONAL | |
| 15 | 15 | DEFENSE PURPOSES. A corporation is exempted from the franchise tax | |
| 16 | 16 | if the corporation operates a spaceport: | |
| 17 | 17 | (1) licensed by the Federal Aviation Administration; | |
| 18 | 18 | and | |
| 19 | 19 | (2) that is critical to the performance of a contract | |
| 20 | 20 | between the corporation and the United States Department of Defense | |
| 21 | 21 | to provide spaceflight or launch services to that department. | |
| 22 | 22 | SECTION 2. The change in law made by this Act applies only | |
| 23 | 23 | to a report originally due on or after the effective date of this | |
| 24 | 24 | Act. | |
| 25 | 25 | SECTION 3. This Act takes effect September 1, 2025. |