Secure U.S. Leadership in Space Act of 2024

To amend the Internal Revenue Code of 1986 to treat spaceports like airports for purposes of exempt facility bond rules. 1. Short title This Act may be cited as the Secure U.S. Leadership in Space Act of 2024 2. Spaceports are treated like airports under exempt facility bond rules (a) In general Section 142(a)(1) (1) airports and spaceports, . (b) Treatment of ground leases Section 142(b)(1) of such Code is amended by adding at the end the following new subparagraph: (C) Special rule for spaceport ground leases For purposes of subparagraph (A), spaceport property located on land leased by a governmental unit from the United States shall not fail to be treated as owned by a governmental unit if the requirements of this paragraph are met by the lease and any subleases of the property. . (c) Definition of spaceport Section 142 of such Code is amended by adding at the end the following new subsection: (p) Spaceport (1) In general For purposes of subsection (a)(1), the term spaceport (A) manufacturing, assembling, or repairing spacecraft, space cargo, other facilities described in this paragraph, or any component of the foregoing, (B) flight control operations, (C) providing launch services and reentry services, or (D) transferring crew, spaceflight participants, or space cargo to or from spacecraft. (2) Additional terms For purposes of paragraph (1)— (A) Space cargo The term space cargo (B) Spacecraft The term spacecraft (C) Other terms The terms launch launch site crew space flight participant launch services launch vehicle payload reenter reentry services reentry site reentry vehicle (3) Public use requirement Notwithstanding any other provision of law, a facility shall not be required to be available for use by the general public to be treated as a spaceport for purposes of this section. (4) Manufacturing facilities and industrial parks allowed With respect to spaceports, subsection (c)(2)(E) shall not apply to spaceport porperty described in paragraph (1)(A). . (d) Exception from federally guaranteed bond prohibition Section 149(b)(3) of such Code is amended by adding at the end the following new subparagraph: (F) Exception for spaceports A bond shall not be treated as federally guaranteed merely because of the payment of rent, user fees, or other charges by the United States (or any agency or instrumentality thereof) in exchange for the use of the spaceport by the United States (or any agency or instrumentality thereof). . (e) Exclusion from State ceiling Section 146(g) of such Code is amended by striking and , and (7) any exempt facility bond issued as part of an issue 95 percent or more of the net proceeds of which are to be used to provide a spaceport (as defined in section 142). . (f) Conforming amendment The heading for section 142(c) of such Code is amended by inserting Spaceports, Airports, (g) Effective date The amendments made by this section shall apply to obligations issued after the date of the enactment of this Act.

Summary: Secure U.S. Leadership in Space Act of 2024 This bill allows the financing of spaceports with tax-exempt facility bonds. The bill defines spaceport as any facility located at or near a launch or reentry site used for (1) manufacturing, assembling, or repairing spacecraft, space cargo, or other facilities; (2) flight control operations; (3) providing launch services and reentry services; or (4) transferring crew, spaceflight participants, or space cargo to or from spacecraft.