SB64 Summary

• Creates the Alabama Space Authority as an office within the Alabama Department of Economic and Community Affairs (ADECA) to promote space exploration, spaceport technologies, and aerospace development.

• Authority composition includes three state directors (Commerce, ADECA, Transportation) plus six members appointed by the Governor, Lieutenant Governor, Speaker of the House, and President Pro Tempore of the Senate.

• Grants authority power to obtain federal spaceport licensing, develop state or private spaceport facilities, secure venture capital partnerships, and propose tax credits and business incentives for aerospace companies.

• Authorizes authority to borrow money, issue bonds, acquire property, and lease facilities necessary for space-related activities and research centers.

• ADECA provides initial support to apply for grant funding, with administrative support continuing upon receipt of grants; members serve without compensation but receive per diem and travel reimbursement.