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 attract investors and expedite project funding. The significance of treating spaceports equally with airports and seaports to stimulate investment in space transportation infrastructure was highlighted. It was noted that these bonds could have benefited projects like Amazon's payload processing facility at the Kennedy Space Center.
The Space Florida has advocated for this legislative change for years, anticipating increased demand for spaceport infrastructure as launch activities escalate. If passed, Space Florida plans to evaluate over 150 statewide projects for bond eligibility, further advancing space transportation normalization and infrastructure development. This legislation represents a pivotal step in fostering investment and competitiveness within the space industry, aligning spaceports with established transportation modes.
Originally published by 08 May, 2024
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