Virginia bill would support spaceflight authority with tax revenue from commercial spaceflight biz

Jack Kennedy has informed me that space advocates in Virginia are backing Senate Bill 1447 in the state legislature. The bill would direct state tax revenues derived from commercial spaceflights and commercial spaceflight training to go to the Virginia Commercial Space Flight Authority.

So, if say Space Adventures brokers a $35M seat on a Soyuz, the state taxes paid by SA for that would go to the space flight authority. The bill does not create any new taxes to support the space flight authority. The money could be used, for example, to help upgrade the Mid-Atlantic Regional Spaceport at Wallops Island for commercial crew operations for flights to the ISS.

Currently the bill, which was introduced last Friday, has been referred to members of the Virginia General Assembly Senate Finance Committee. Senator William Wampler has been supporting the bill and helping to improve the language of the bill.

Here is the Text of SB 1447 and here is a list of the members of the Senate Finance Committee.

Jack asks that Virginia space advocates urge members of the Senate Finance Committee to support Senator Wampler’s bill and advance it to the Senate floor for a favorable vote. “Your action will promote the goal of building the ‘best commercial spaceport in America'”.

More background about the legislation can be found at /– Creative Budgeteer Boosts Va Spaceflight – Feb.10.10 /– Virginia Tax Measure for Space Not in Budget – Spaceports – Feb.25.10

It should also be noted that in 2008 Sen. Wampler successfully obtained passage of the Virginia ZeroGravity, ZeroTax Act that provides income tax benefits to companies that invest in Virginia projects to launch commercial payloads to orbit from Wallops Island.

URL: http://hobbyspace.com/nucleus/?itemid=26698

Leave a Reply

Your email address will not be published. Required fields are marked *