H.B. No. 5246 seeks to enhance the functions and governance of the Texas Space Commission and the Texas Aerospace Research and Space Economy Consortium while abolishing the spaceport trust fund. The bill amends the Government Code by changing references from "space-related" to "aerospace-related" and removing provisions concerning the funding and support of spaceports. It establishes a new definition for the "Consortium" and outlines the commission's purpose to promote innovation in aerospace exploration and commercial opportunities. The governance structure is modified to include a board of nine voting members appointed by state leaders, with an executive director from the Texas Economic Development and Tourism Office serving as a nonvoting member. The board is empowered to direct the commission's activities and ensure that procurement actions serve a legitimate public purpose.

Additionally, the bill introduces amendments that allow the board to conduct closed meetings for discussing grant applications and military or aerospace facility matters, with final actions required to occur in open meetings. It changes the frequency of strategic planning updates from annually to biennially and expands the purposes for which the space exploration and aeronautics research fund can be utilized. The bill also establishes the Texas Aerospace Research and Space Economy Consortium as an advisory committee, detailing its governance and operational duties, including the ability to solicit donations. The spaceport trust fund is abolished, with its balance transferred to the general revenue fund, while ensuring existing contracts with spaceport development corporations remain valid. The act is set to take effect on September 1, 2025.

Statutes affected:
Introduced: Government Code 481.0066, Government Code 482.101, Government Code 482.103, Government Code 482.105, Government Code 482.107, Government Code 482.201, Government Code 482.302, Government Code 482.501, Government Code 481.0069 (Government Code 482, Government Code 481)
House Committee Report: Government Code 481.0066, Government Code 482.101, Government Code 482.103, Government Code 482.105, Government Code 482.107, Government Code 482.201, Government Code 482.302, Government Code 482.501, Government Code 481.0069 (Government Code 482, Government Code 481)
Engrossed: Government Code 481.0066, Government Code 482.101, Government Code 482.103, Government Code 482.105, Government Code 482.107, Government Code 482.201, Government Code 482.301, Government Code 482.302, Government Code 482.501, Government Code 482.505, Government Code 481.0069 (Government Code 482, Government Code 481)
Senate Committee Report: Government Code 481.0066, Government Code 482.001, Government Code 482.101, Government Code 482.103, Government Code 482.105, Government Code 482.107, Government Code 482.201, Government Code 482.301, Government Code 482.302, Government Code 482.501, Government Code 482.505, Government Code 481.0069 (Government Code 482, Government Code 481)
Enrolled: Government Code 481.0066, Government Code 482.001, Government Code 482.101, Government Code 482.103, Government Code 482.105, Government Code 482.107, Government Code 482.201, Government Code 482.301, Government Code 482.302, Government Code 482.501, Government Code 482.505, Government Code 481.0069 (Government Code 482, Government Code 481)