HB 3045
AN ACT relating to a franchise tax exemption for corporations operating a
89th Regular Session
Jan 14, 2025 - Jun 2, 2025 • Session ended
Awaiting Committee Assignment
Bill filed, pending referral to House committee
Committee
Not yet assigned
Fiscal Note
Not available
What This Bill Does
Provides a franchise tax exemption for corporations that operate a Federal Aviation Administration-licensed spaceport and have a critical contract with the U.S. Department of Defense for spaceflight or launch services. The exemption applies to corporations meeting these specific national defense-related criteria, potentially reducing their tax burden and incentivizing strategic spaceport operations that support military needs. The tax exemption will take effect on September 1, 2025, and apply to tax reports due on or after that date.
Subject Areas
Bill Text
relating to a franchise tax exemption for corporations operating a spaceport for certain national defense purposes. BE IT ENACTED BY THE LEGISLATURE OF THE STATE OF TEXAS: SECTION 1. Subchapter B, Chapter 171, Tax Code, is amended by adding Section 171.089 to read as follows: Sec. 171.089. EXEMPTION-SPACEPORT USED FOR NATIONAL DEFENSE PURPOSES. A corporation is exempted from the franchise tax if the corporation operates a spaceport: (1) licensed by the Federal Aviation Administration; (2) that is critical to the performance of a contract between the corporation and the United States Department of Defense to provide spaceflight or launch services to that department. SECTION 2. The change in law made by this Act applies only to a report originally due on or after the effective date of this SECTION 3. This Act takes effect September 1, 2025.
Bill History
Bill filed: AN ACT relating to a franchise tax exemption for corporations operating a
Related Guides
Learn more about tracking Texas legislation and working with lobbyists.
How to Read & Track Texas Bills
Master bill numbering, understand legislative language, and learn effective tracking strategies.
Understanding Texas Legislative Deadlines
Navigate the 140-day session with critical calendar dates and filing deadlines.
How Laws Get Made in Texas
Follow a bill's journey from filing to the governor's desk through committees and floor votes.
When Should Your Business Hire a Lobbyist?
Discover the signs that your business needs professional advocacy at the Texas Capitol.