SB 1715

relating to an exemption from the franchise tax for certain
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: QUALIFIED SPACE COMPANY.  (a)  In
(1)  "Qualified space company" means a corporation,
partnership, or other business entity primarily engaged in the
research, development, manufacturing, testing, or launching of
satellites, spacecraft, space vehicles, or related technologies
(2)  "Satellite" means an artificial object and its
components that is intentionally placed into orbit around Earth or
another celestial body, including an object used to facilitate
communications, observe weather conditions, or carry scientific
instruments or observation platforms used for data collection,
broadcasting, or other services.
(3)  "Spacecraft" means a vehicle or device and its
components designed for travel or operation in space, including a
crewed or uncrewed vessel used for exploration, transportation,
scientific research, communication, or defense purposes.
(4)  "Space vehicle" means a vehicle or craft and its
components that is specifically designed to carry payloads,
satellites, equipment, or people into space, including a launch
vehicle, rocket, space shuttle, or other system used to transport
objects or people beyond the Earth's atmosphere.
(b)  A qualified space company is exempted from the franchise
SECTION 2.  Section 171.089, Tax Code, as added by this Act,
applies only to a report originally due on or after the effective
SECTION 3.  This Act takes effect January 1, 2026.