HB 1227 Summary

• Adds space transportation technology, including ingress and egress into low earth orbit and near orbit, to Indiana's high-technology business development programs and incentives across multiple statutes.

• Makes research and development equipment for space transportation technology eligible for property tax abatement in economic revitalization areas and exempt from sales tax.

• Allows individual taxpayers a deduction from adjusted gross income for casualty losses on space vehicles owned by the taxpayer.

• Requires the Department of Transportation to develop policies and programs encouraging space transportation research and development, designating Columbus Municipal Airport as the primary spaceport and Anderson Municipal Airport as the secondary spaceport.

• Authorizes the Columbus Board of Aviation Commissioners to establish an airport development zone with specified findings regarding civilian space industry investment and state space policy goals.