Office of House Bill AnalysisH.B. 1964
By: Seaman
Economic Development


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. 


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. 


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. 


September 1, 2001.