H.B. No. 3045 proposes a franchise tax exemption for corporations that operate spaceports specifically for national defense purposes. The bill introduces a new section, 171.089, to the Tax Code, which stipulates that a corporation will be exempt from the franchise tax if it meets two criteria: it must be an operator of a spaceport authorized by the Federal Aviation Administration and must have a contract with the United States Department of Defense to provide spaceflight or launch services.

The provisions of this bill will only apply to reports that are originally due on or after the effective date of the Act, which is set for September 1, 2025. This legislation aims to encourage the development and operation of spaceports that support national defense initiatives by alleviating the tax burden on qualifying corporations.

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