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ARTICLE · 01 AUGUST 2024

Legislation Proposes Tax-Exempt Bonds For Spaceports

Pioneer Legal
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The legislation introduced in the United State Congress on February 28, 2024, aims to grant spaceports the ability to issue tax-exempt bonds...

GlobalTransport
Anupam Shukla
Anupam Shukla
Yash Bhale
Yash Bhale
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The legislation introduced in the United State Congress on February 28, 2024, aims to grant spaceports the ability to issue tax-exempt bonds, paralleling privileges held by airports and seaports [H.R.7470 - 118th Congress (2023-2024): Secure U.S. Leadership in Space Act of 2024, H.R.7470, 118th Cong. (2024), https://www.congress.gov/bill/118th-congress/house-bill/7470]. The Secure U.S. Leadership in Space Act of 2024 seeks to amend the Internal Revenue Code to authorize spaceports to issue tax-exempt municipal revenue bonds for infrastructure enhancements. This authority is currently granted to airports and seaports.

Senator Marco Rubio and Senator Ben Ray Luján introduced the Senate version, emphasizing the need to bolster spaceport infrastructure to remain competitive with countries like China. Representative Neal Dunn and Salud Carbajal introduced a companion bill in the House of Representatives. Rob Long, President of Space Florida, lauded the bill's potential to

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