Florida Seeks to Establish Commercial Launch Zone Tax Incentives Post 2014

Space Florida recently completed a 100% draft of the updated Spaceport Master Plan, a detailed document (required by Florida Statute) that addresses "the expansion and modernization of space transportation facilities in Florida."

The plan details specific infrastructure projects proposed to the Florida Department of Transportation, for consideration in the FDOT Five-Year Work Program. This most recent draft of Space Florida's Spaceport Master Plan [PDF] assesses current space infrastructure and capacity in Florida (as well as the needs of the market), identifies plans for modernization and expansion, and describes a path for implementation.

Florida's 2010 legislative session will consider HB 133 to create a new section of the Florida Statutes (FS 220.194) designed to establish Commercial Launch Zone tax incentives. The measure provides credits against corporate income tax for taxpayers that create or provide investments for spaceflight projects; establishes eligibility requirements for tax credits; allows for carry forward of tax credits; provides application and certification requirements; provides for expiration and renewal of taxpayer's eligibility for tax credits; and other administrative procedures.