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TX SB1731

Bill

Official Source

Status

Introduced

2/27/2025

Primary Sponsor

Adam Hinojosa

Click for details

Origin

Senate

89th Legislature Regular Session

AI Summary

  • Exempts corporations from Texas franchise tax if they operate a spaceport licensed by the Federal Aviation Administration
  • Spaceport must be critical to performing a contract with the U.S. Department of Defense to provide spaceflight or launch services
  • Applies only to franchise tax reports originally due on or after the effective date
  • Takes effect September 1, 2025

Legislative Description

Relating to a franchise tax exemption for corporations operating a spaceport for certain national defense purposes.

Taxation

Last Action

Referred to Finance

3/13/2025

Committee Referrals

Finance3/13/2025

Full Bill Text

No bill text available