Tex. Local Gov't Code Section 507.201
Exemption from Certain Taxes

(a)

The property, income, and operations of a spaceport development corporation are exempt from taxes imposed by this state or a political subdivision of this state.

(b)

Tangible personal property located in the spaceport, such as a spacecraft or other property necessary to launch the spacecraft, is exempt from ad valorem taxation.

(c)

Chapter 151 (Limited Sales, Excise, and Use Tax), Tax Code, does not apply to tangible personal property purchased by a person for use in a spaceport.
Added by Acts 2007, 80th Leg., R.S., Ch. 885 (H.B. 2278), Sec. 3.01, eff. April 1, 2009.

Source: Section 507.201 — Exemption from Certain Taxes, https://statutes.­capitol.­texas.­gov/Docs/LG/htm/LG.­507.­htm#507.­201 (accessed Apr. 29, 2024).

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Accessed:
Apr. 29, 2024

§ 507.201’s source at texas​.gov