TX HB3547

Exempts "qualified space companies" from the Texas franchise tax, effective January 1, 2026

Defines qualified space companies as corporations, partnerships, or other business entities primarily engaged in research, development, manufacturing, testing, or launching of satellites, spacecraft, space vehicles, or related technologies from Texas locations

Defines "satellite" as artificial objects placed into orbit around Earth or other celestial bodies for communications, weather observation, scientific instruments, or data collection purposes

Defines "spacecraft" as crewed or uncrewed vehicles designed for travel or operation in space for exploration, transportation, research, communication, or defense

Defines "space vehicle" as vehicles designed to carry payloads, satellites, equipment, or people into space, including rockets, launch vehicles, and space shuttles