Amend HB 3029 by inserting the following appropriately
numbered section and renumbering subsequent sections appropriately:
SECTION ____. The Development Corporation Act of 1979
(Article 5190.6, Vernon's Texas Civil Statutes) is amended by
adding Section 4___ to read as follows:
Sec. 4. DEVELOPMENT CORPORATION FOR SPACEPORT FACILITIES.
(a) In this section:
(1) "Eligible entity" means any county or combination
of municipalities and counties.
(2) "Project" means land, buildings, equipment,
facilities, and improvements included in the definition of that
term under Section 2 of this Act, including land, buildings,
equipment, facilities, and improvements found by the board of
directors to:
(A) be required or suitable for use for the
promotion or development of a spaceport, related area
transportation facilities, automobile parking facilities, and
related roads, streets, and water and sewer facilities, and other
related improvements that enhance any of those items;
(B) promote or develop new or expanded business
enterprises relating to a spaceport;
(C) promote or develop educational programs and
job training in connection with a spaceport;
(D) be required or suitable for the promotion of
development and expansion of affordable housing in connection with
a spaceport as defined by 42 U.S.C. Section 12745.
(3) "Spacecraft" includes a satellite.
(4) "Spaceport" includes:
(A) an area intended to be used to launch or
land a spacecraft;
(B) a spaceport building or facility located on
an area appurtenant to a launching or landing area;
(C) an area appurtenant to a launching or
landing area that is intended for use for a spaceport building or
facility; and
(D) a right-of-way related to a launching or
landing area. building facility, or other area that is appurtenant
to a launching or landing area.
(b) An eligible entity may create a corporation under this
Act governed by this section. The corporation has the powers
granted by this section and by other sections of this Act and is
subject to the limitations of a corporation created under other
provisions of this Act. To the extent of a conflict between this
section and another provision of this Act, this section prevails.
The articles of incorporation of a corporation under this section
must state that the corporation is governed by this section and may
include within its name any words and phrases specified by the
eligible entity.
(c) A corporation may:
(1) acquire, convey, mortgage, or otherwise dispose of
property; and
(2) exercise the power of eminent domain to acquire
property for a spaceport, including the power to:
(A) acquire fee title in land condemned;
(B) relocate or modify a railroad, utility line.
pipeline, or other facility that may interfere with a spaceport; or
(C) impose a reasonable restriction on using the
surface of the property for mineral development if the corporation
does not own the mineral rights.
(d) A corporation may not issue a bond or acquire property
unless a site in the territory of the eligible entity that
established the corporation has been designated as the site for a
spaceport.
(e) Before exercising the power of eminent domain under this
section, a corporation must obtain a resolution approving the
proposed condemnation from the governing body of a county or
municipality in which the property is located. For purposes of
this section, territory in the extraterritorial jurisdiction of a
municipality is considered to be in the jurisdiction of the
municipality. The exercise of the power of eminent domain by the
corporation is governed by Chapter 21, Property Code.
(f) A corporation may make an agreement with or accept a
donation, grant, or loan from any person. A corporation may enter
into an interlocal contract under Chapter 791, Government Code. A
corporation may not contract to operate a spaceport unless the
agreement provides that the person contracting with the corporation
must assume the corporation's liability for a cause of action
arising from environmental damage. A corporation may sue and be
sued.
(g) A corporation is governed by a board of seven directors.
For a corporation established by a single county, the commissioners
court of the county shall appoint the directors. If more than one
public entity creates the corporation the board must be appointed
by written agreement between the governing bodies of those
entities. Each director serves a two-year term that expires June 1
of each odd-numbered year except that the terms of three or four of
the initial directors may be for a one-year term so that the terms
can be staggered for future two-year terms. A board shall elect a
presiding officer from among its members. A board by rule may
provide for the election of other officers. The board shall meet
at least once every three months and at the call of the presiding
officer or a majority of the directors.
(h) A board by rule may develop a plan for higher education
courses and degree programs to be offered at or near a spaceport.
These planned courses and degree programs must be related to the
purposes of this chapter. The Texas Aerospace Commission and the
Texas Higher Education Coordinating Board shall cooperate with and
advise a board in carrying out this section.
(i) A corporation may:
(1) impose a charge for using a spaceport or a service
the corporation provides;
(2) issue a bond as provided by this section;
(3) borrow money;
(4) loan money to fund a spaceport; and
(5) invest money under its control in an investment
permitted by Chapter 2256, Government Code.
(j) A corporation's property, income, and operations are
exempt from taxes imposed by the state or a political subdivision
of the state. In lieu of taxes, a corporation shall make a payment
to each political subdivision of the state in an amount equal to
the ad valorem taxes that would be paid on the land of the
corporation if the land were privately owned. Tangible personal
property such as a spacecraft or other property necessary to launch
the spacecraft is not taxable under Section 11.01, Tax Code, if it
is located in the spaceport. Chapter 151, Tax Code, does not apply
to tangible personal property purchased by a person for use in a
spaceport.
(k) A corporation may issue bonds. The bonds are not an
obligation or a pledge of the faith and credit of the state, a
sponsoring entity or other political subdivision or agency of the
state. A bond issued under this section must:
(1) be payable solely from the revenue of a spaceport
developed by the corporation issuing the bond;
(2) mature not later than 50 years after its date of
issuance; and
(3) state on its face that the bond is not an
obligation of the State of Texas or a political subdivision of the
state, other than the corporation that issued the bond; and
(4) be approved by the governing body of each entity
that established the corporation.
(l) Section 24 of this Act does not apply to a corporation
under this section.