Texas HB3045 exempts corporations from the franchise tax if they operate a spaceport for national defense purposes.

Texas HB3045 amends the Tax Code to exempt corporations from the franchise tax if they operate a spaceport licensed by the Federal Aviation Administration and critical to a contract with the U.S. Department of Defense for spaceflight or launch services. This change applies to reports due on or after the effective date of the Act, which is September 1, 2025.

Texas HB3045 exempts corporations from the franchise tax if they operate a spaceport for national defense purposes.

Texas HB3045 amends the Tax Code to exempt corporations from the franchise tax if they operate a spaceport licensed by the Federal Aviation Administration and critical to a contract with the U.S. Department of Defense for spaceflight or launch services. This change applies to reports due on or after the effective date of the Act, which is September 1, 2025.