| 5 | 3 | | |
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| 6 | 4 | | |
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| 7 | 5 | | A BILL TO BE ENTITLED |
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| 8 | 6 | | AN ACT |
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| 9 | 7 | | relating to a franchise tax exemption for corporations operating a |
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| 10 | 8 | | spaceport for certain national defense purposes. |
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| 11 | 9 | | BE IT ENACTED BY THE LEGISLATURE OF THE STATE OF TEXAS: |
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| 12 | 10 | | SECTION 1. Subchapter B, Chapter 171, Tax Code, is amended |
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| 13 | 11 | | by adding Section 171.089 to read as follows: |
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| 14 | 12 | | Sec. 171.089. EXEMPTION-SPACEPORT USED FOR NATIONAL |
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| 15 | 13 | | DEFENSE PURPOSES. A corporation is exempted from the franchise tax |
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| 16 | 14 | | if the corporation operates a spaceport: |
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| 17 | 15 | | (1) licensed by the Federal Aviation Administration; |
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| 18 | 16 | | and |
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| 19 | 17 | | (2) that is critical to the performance of a contract |
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| 20 | 18 | | between the corporation and the United States Department of Defense |
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| 21 | 19 | | to provide spaceflight or launch services to that department. |
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| 22 | 20 | | SECTION 2. The change in law made by this Act applies only |
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| 23 | 21 | | to a report originally due on or after the effective date of this |
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| 24 | 22 | | Act. |
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| 25 | 23 | | SECTION 3. This Act takes effect September 1, 2025. |
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