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A BILL TO BE ENTITLED
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AN ACT
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relating to a franchise tax exemption for corporations operating a |
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spaceport for certain national defense purposes. |
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BE IT ENACTED BY THE LEGISLATURE OF THE STATE OF TEXAS: |
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SECTION 1. Subchapter B, Chapter 171, Tax Code, is amended |
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by adding Section 171.089 to read as follows: |
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Sec. 171.089. EXEMPTION-SPACEPORT USED FOR NATIONAL |
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DEFENSE PURPOSES. A corporation is exempted from the franchise tax |
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if the corporation operates a spaceport: |
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(1) licensed by the Federal Aviation Administration; |
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and |
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(2) that is critical to the performance of a contract |
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between the corporation and the United States Department of Defense |
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to provide spaceflight or launch services to that department. |
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SECTION 2. The change in law made by this Act applies only |
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to a report originally due on or after the effective date of this |
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Act. |
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SECTION 3. This Act takes effect September 1, 2025. |