HBA-KDB H.B. 1964 77(R) BILL ANALYSIS Office of House Bill AnalysisH.B. 1964 By: Seaman Economic Development 3/9/2001 Introduced BACKGROUND AND PURPOSE The Texas Aerospace Commission advocates the building of a commercial spaceport in Texas. The spaceport would be a private-public commercial enterprise created to launch satellites into orbit using reusable launch vehicles. If created, the spaceport would bring new jobs to Texas for the development of new technologies. However, if Texas is selected for a spaceport site, appropriations will be necessary to create and develop necessary infrastructure. House Bill 1964 establishes the spaceport trust fund to provide for the development of spaceport-related infrastructure. RULEMAKING AUTHORITY It is the opinion of the Office of House Bill Analysis that rulemaking authority is expressly delegated to the Texas Aerospace Commission in SECTION 1 (Section 482.004, Government Code) of this bill. ANALYSIS House Bill 1964 amends the Government Code to create the spaceport trust fund as a fund, with the comptroller of public accounts (comptroller), and requires the fund to be administered by the Texas Aerospace Commission (commission) and rules adopted by the commission. The bill authorizes the money in the trust fund to be used only to pay expenditures for infrastructure development for the establishment of a spaceport. The bill prohibits the comptroller from transferring funds into the trust fund unless the commission certifies to the comptroller that a viable reusable launch vehicle company with a sound business plan has been established and has committed to locating its facilities at a spaceport in Texas, a development corporation for spaceport facilities has established a development plan for the project and has secured at least 90 percent of the funding required for the project, and the spaceport has obtained the appropriate Federal Aviation Administration license. The bill authorizes the commission to contract with a development corporation for spaceport facilities for the development of the infrastructure necessary for the establishment of a spaceport. The bill sets forth provisions regarding the contents and use of the trust fund. EFFECTIVE DATE September 1, 2001.