HBA-KDB H.B. 3391 77(R) BILL ANALYSIS Office of House Bill AnalysisH.B. 3391 By: Oliveira Ways & Means 3/30/2001 Introduced BACKGROUND AND PURPOSE The 76th Legislature created strategic investment areas, which are counties with above average unemployment and below average per capita income, and in which franchise tax exemptions may be granted to businesses conducting research and development activities. Currently, Texas is one of several states competing for the placement of a commercial spaceport, a project through which a conglomerate of aerospace companies would be able to launch reusable spacecraft to deliver cargo into space. If a county that has a spaceport within its boundaries is considered a strategic investment area, then the state may have a greater chance in securing the project. House Bill 3391 adds to the definition of "strategic investment area" a county that has a spaceport within its boundaries. RULEMAKING AUTHORITY It is the opinion of the Office of House Bill Analysis that this bill does not expressly delegate any additional rulemaking authority to a state officer, department, agency, or institution. ANALYSIS House Bill 3391 amends the Tax Code to add to the definition of "strategic investment area" a county within this state that has a spaceport within its boundaries. EFFECTIVE DATE January 1, 2002.