Tex. Loc. Gov't Code § 507.201

Current with legislation from the 2023 Regular and Special Sessions signed by the Governor as of November 21, 2023.

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, Tax Code, does not apply to tangible personal property purchased by a person for use in a spaceport.

Tex. Loc. Gov't. Code § 507.201

Added by Acts 2007, 80th Leg., R.S., Ch. 885, Sec. 3.01, eff. 4/1/2009.