Bill

HB 303

86(R) - 2019
House International Relations & Economic Development
Senate Natural Resources & Economic Development
House International Relations & Economic Development
Senate Natural Resources & Economic Development

Vote Recommendation

No
  • Negative
  • Neutral
  • Neutral
  • Negative
  • Neutral

Author(s)

Dennis Paul

Sponsor(s)

Larry Taylor

Bill Caption

Relating to entities eligible to authorize the creation of a spaceport development corporation and to the powers of those corporations.

Fiscal Notes

No significant fiscal implication to the State is anticipated.


Bill Analysis

HB 303 would authorize certain municipalities with a population of two million or more to create a spaceport development corporation without having to partner with a county. This corporation would fund infrastructure and promote business and educational programs related to the spaceport.

Vote Recommendation Notes

We oppose the underlying concept of spaceport development corporations. These corporations are mechanisms to allow political subdivisions to use preferential tax treatment to entice an industry to a specific location. This positions government entities to compete with private business and allows the government to pick winners and losers in the marketplace, hindering voluntary market transactions. This leads to a less efficient economic system and higher cost to taxpayers.

Furthermore, these corporations have the ability to issue bonds and are exempt from certain taxes. This infringes on the principles of limited government and free markets. Because this bill would make it easier for a bracketed municipality to authorize a spaceport development corporation by removing the requirement to work in conjunction with a county, we oppose HB 303.