EXPLORATION PARK, Fla.—December 13, 2023—Space Florida released the following statement on the U.S. House of Representatives Select Committee on the Strategic Competition between the United States and the China Communist Party’s smart and insightful inclusion of tax-exempt status for spaceport bonds as a strategic decision to bolster America’s competitiveness in the global space arena. The following statement should be attributed to Rob Long, president and CEO, Space Florida.
“As we witness historic records in commercial space transportation activity, the United States must maintain its place as the global leader in space transportation. China’s advancements in space technology and infrastructure demand innovative responses and designating spaceport bonds tax-exempt is such a response.
“From enhancing American national security capabilities to catalyzing private investments in spaceport infrastructure, modernizing space transportation infrastructure financing options will reduce the cost of capital for space transportation projects nationwide and create a more secure, more efficient ecosystem right here from Florida.
“I urge Congress to make spaceport bonds tax-exempt, creating a vital tool to further solidify our nation’s leadership in the emerging space transportation race. By doing so, the United States will remain leaders of this rapidly growing industry, protect our national interests, and continue to reap the economic benefits of commercial space activities.”
The congressional recommendation comes on the heels of the Florida Legislature acting decisively to file a Memorial in support of the U.S. Congress pursuing tax-exempt status for spaceport bonds under the Internal Revenue Code. Senate Bill 370 was filed by Sen. Tom Wright and House Bill 143 was filed by Rep. Tyler Sirois. Space Florida submitted a letter earlier this year to the Internal Revenue Service in support of making spaceport bonds tax-exempt.
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About Space Florida
Space Florida is where leading aerospace companies get everything they need to see their new ideas take off. As the state’s aerospace finance and development authority, Space Florida brings a mix of unrivaled experience, unmatched financial tools, and unbeatable location to the table by providing critical business financing opportunities for the aerospace industry, managing infrastructure investment in the state’s spaceport system, and facilitating research and development, workforce, education, and investment programs.
