TITLE: Relating to the use of money in the spaceport trust fund for programs related to the aerospace industry.

SUMMARY: Relating to the use of money in the spaceport trust fund for programs related to the aerospace industry.

FULL TEXT:
AN ACT relating to the use of money in the spaceport trust fund for programs related to the aerospace industry. BE IT ENACTED BY THE LEGISLATURE OF THE STATE OF TEXAS: SECTION 1. Section 481.0069, Government Code, is amended by amending Subsections (d) and (e) and adding Subsections (e-1) and (e-2) to read as follows: (d) Money in the spaceport trust fund may not be spent unless the office certifies to the comptroller:(1) that: (A) [(1)] a viable business entity has been established that: (i) [(A)] has a business plan that demonstrates that the entity has available the financial, managerial, and technical expertise and capability necessary to launch and land a reusable launch vehicle; and (ii) [(B)] has committed to locating its facilities at a spaceport in this state; (B) [(2)] a development corporation for spaceport facilities created under Chapter 507, Local Government Code, has established a development plan for the spaceport project and has secured at least 90 percent of the funding required for the project; and (C) [(3)] the spaceport or launch operator has obtained the appropriate Federal Aviation Administration license;or (2) that the money will be used to pay for programs described by Subsection (e)(2).(e) Money in the spaceport trust fund may be used only:(1) to pay expenditures for the development of infrastructure necessary or useful for establishing a spaceport;or (2) to fund programs related to research conducted onboard the International Space Station, including a program that provides money, subject to Subsection (e-1), to a nonprofit organization to support that research, if the organization: (A) is formed in this state; (B) has a Space Act agreement with the National Aeronautics and Space Administration; and (C) has the authority to use the capabilities of the National Aeronautics and Space Administration, the aerospace industry, and institutions of higher education.(e-1) A nonprofit organization described by Subsection (e)(2) shall use any money received under this section to support the research described by that subdivision in collaboration with: (1) companies formed in this state; or (2) public-private partnerships. (e-2) The office may contract with a development corporation for spaceport facilities for the infrastructure development. SECTION 2. This Act takes effect September 1, 2013.