CHAPTER 507. SPACEPORT DEVELOPMENT CORPORATIONS
LOCAL GOVERNMENT CODE
TITLE 12. PLANNING AND DEVELOPMENT
SUBTITLE C1. ADDITIONAL PLANNING AND DEVELOPMENT PROVISIONS
APPLYING TO MORE THAN ONE TYPE OF LOCAL GOVERNMENT
CHAPTER 507. SPACEPORT DEVELOPMENT CORPORATIONS
SUBCHAPTER A. GENERAL PROVISIONS
Sec. 507.001. DEFINITIONS. In this chapter:
(1) "Authorizing entity" means the political subdivision or
combination of political subdivisions that authorizes the
creation of a spaceport development corporation as permitted
under Section 507.003.
(2) "Spacecraft" includes a satellite.
(3) "Spaceport" includes:
(A) an area intended to be used to launch or land a spacecraft;
(B) a spaceport building or facility located on an area
appurtenant to a launching or landing area;
(C) an area appurtenant to a launching or landing area that is
intended for use for a spaceport building or facility; and
(D) a right-of-way related to a launching or landing area,
building, facility, or other area that is appurtenant to a
launching or landing area.
(4) "Spaceport development corporation" means a corporation
governed by this chapter.
Added by Acts 2007, 80th Leg., R.S., Ch.
885, Sec. 3.01, eff. April 1, 2009.
Sec. 507.002. SCOPE OF PROJECT. For purposes of a spaceport
development corporation, in addition to land, buildings,
equipment, facilities, and improvements that constitute a project
under Chapter 501, "project" includes the land, buildings,
equipment, facilities, and improvements found by the board of
directors of the corporation to:
(1) be required or suitable for use for the promotion or
development of a spaceport, related area transportation
facilities, automobile parking facilities, and related roads,
streets, and water and sewer facilities, and other related
improvements that enhance the spaceport or another item specified
by this subdivision;
(2) promote or develop new or expanded business enterprises
relating to a spaceport;
(3) promote or develop educational programs or job training
relating to a spaceport; or
(4) be required or suitable for the promotion of development and
expansion of affordable housing, as defined by 42 U.S.C. Section
12745, relating to a spaceport.
Added by Acts 2007, 80th Leg., R.S., Ch.
885, Sec. 3.01, eff. April 1, 2009.
Sec. 507.003. AUTHORITY TO CREATE CORPORATION BY ELIGIBLE
ENTITIES. The following entities are eligible to authorize the
creation under this subtitle of a spaceport development
corporation:
(1) a county; or
(2) a combination of one or more municipalities and one or more
counties.
Added by Acts 2007, 80th Leg., R.S., Ch.
885, Sec. 3.01, eff. April 1, 2009.
Sec. 507.004. CONTENTS OF CERTIFICATE OF FORMATION. The
certificate of formation of a spaceport development corporation:
(1) must state that the corporation is governed by this chapter;
and
(2) may include in the corporation's name any word or phrase the
authorizing entity specifies.
Added by Acts 2007, 80th Leg., R.S., Ch.
885, Sec. 3.01, eff. April 1, 2009.
Sec. 507.005. CORPORATION NOT SUBJECT TO CERTAIN PROVISIONS.
Sections 501.203, 501.205, 501.251-254, 501.255(a) and (b),
501.256, and 501.257 do not apply to a corporation under this
chapter.
Added by Acts 2007, 80th Leg., R.S., Ch.
885, Sec. 3.01, eff. April 1, 2009.
Sec. 507.006. CONFLICTS OF LAW. To the extent of any conflict
between this chapter and any other provision of this subtitle,
this chapter prevails.
Added by Acts 2007, 80th Leg., R.S., Ch.
885, Sec. 3.01, eff. April 1, 2009.
SUBCHAPTER B. GOVERNANCE OF CORPORATION
Sec. 507.051. BOARD OF DIRECTORS. (a) A spaceport development
corporation is governed by a board of seven directors.
(b) If a single county authorizes the creation of a spaceport
development corporation, the commissioners court of the county
shall appoint the directors of the corporation. If more than one
political subdivision authorizes the creation of a spaceport
development corporation, the governing bodies of the political
subdivisions shall appoint the directors through written
agreement between the governing bodies.
(c) Each director serves a two-year term that expires June 1 of
each odd-numbered year, except that three or four of the initial
directors may serve a one-year term so that the terms may be
staggered in the future.
Added by Acts 2007, 80th Leg., R.S., Ch.
885, Sec. 3.01, eff. April 1, 2009.
Sec. 507.052. OFFICERS. (a) The board of directors of a
spaceport development corporation shall elect a presiding officer
from among its members.
(b) The board of directors by rule may provide for the election
of other officers.
Added by Acts 2007, 80th Leg., R.S., Ch.
885, Sec. 3.01, eff. April 1, 2009.
Sec. 507.053. MEETINGS. The board of directors of a spaceport
development corporation shall meet:
(1) at least once every three months; and
(2) at the call of the presiding officer or a majority of the
directors.
Added by Acts 2007, 80th Leg., R.S., Ch.
885, Sec. 3.01, eff. April 1, 2009.
SUBCHAPTER C. POWERS AND DUTIES
Sec. 507.101. GENERAL POWERS AND LIMITATIONS OF CORPORATION. A
spaceport development corporation:
(1) has the powers granted by this chapter and by other chapters
of this subtitle; and
(2) is subject to the limitations of a corporation authorized to
be created under another provision of this subtitle.
Added by Acts 2007, 80th Leg., R.S., Ch.
885, Sec. 3.01, eff. April 1, 2009.
Sec. 507.102. ACQUISITION, MORTGAGE, OR DISPOSAL OF PROPERTY.
(a) A spaceport development corporation may acquire property but
only if a site in the territory of the authorizing entity has
been designated as the site for a spaceport.
(b) A spaceport development corporation may:
(1) mortgage property; or
(2) convey or otherwise dispose of property.
Added by Acts 2007, 80th Leg., R.S., Ch.
885, Sec. 3.01, eff. April 1, 2009.
Sec. 507.103. EMINENT DOMAIN. (a) A spaceport development
corporation may exercise the power of eminent domain to acquire
property for a spaceport, including the power to:
(1) acquire fee title in land condemned;
(2) relocate or modify a railroad, utility line, pipeline, or
other facility that may interfere with a spaceport; or
(3) impose a reasonable restriction on using the surface of the
property for mineral development if the corporation does not own
the mineral rights.
(b) Before exercising the power of eminent domain under this
chapter, a spaceport development corporation must obtain a
resolution approving the proposed condemnation from the governing
body of a county or municipality in which the property is
located. For purposes of this chapter, territory in the
extraterritorial jurisdiction of a municipality is considered to
be in the jurisdiction of the municipality.
(c) Chapter 21, Property Code, governs the exercise of the power
of eminent domain by a spaceport development corporation.
Added by Acts 2007, 80th Leg., R.S., Ch.
885, Sec. 3.01, eff. April 1, 2009.
Sec. 507.104. CONTRACTS. (a) Except as provided by Subsection
(b), a spaceport development corporation may enter into:
(1) an agreement with any person; or
(2) an interlocal contract under Chapter 791, Government Code.
(b) A spaceport development corporation may not enter into a
contract to operate a spaceport unless the agreement provides
that the person contracting with the corporation assumes the
corporation's liability for a cause of action arising from
environmental damage.
Added by Acts 2007, 80th Leg., R.S., Ch.
885, Sec. 3.01, eff. April 1, 2009.
Sec. 507.105. GENERAL POWERS RELATED TO FINANCES. A spaceport
development corporation may:
(1) impose a charge for using a spaceport or a service the
corporation provides;
(2) borrow money;
(3) loan money to fund a spaceport; and
(4) invest money under the corporation's control in an
investment authorized by Chapter 2256, Government Code.
Added by Acts 2007, 80th Leg., R.S., Ch.
885, Sec. 3.01, eff. April 1, 2009.
Sec. 507.106. DONATIONS, GRANTS, AND LOANS. A spaceport
development corporation may accept a donation, grant, or loan
from any person.
Added by Acts 2007, 80th Leg., R.S., Ch.
885, Sec. 3.01, eff. April 1, 2009.
Sec. 507.107. AUTHORITY TO SUE AND BE SUED. A spaceport
development corporation may sue and be sued.
Added by Acts 2007, 80th Leg., R.S., Ch.
885, Sec. 3.01, eff. April 1, 2009.
Sec. 507.108. HIGHER EDUCATION COURSES AND DEGREE PROGRAMS. (a)
The board of directors of a spaceport development corporation by
rule may develop a plan for higher education courses and degree
programs to be offered at or near a spaceport.
(b) A course or degree program offered under this section must
be related to the purposes of this chapter.
(c) The aerospace and aviation office of the Texas Economic
Development and Tourism Office and the Texas Higher Education
Coordinating Board shall cooperate with and advise the board of
directors in carrying out this section.
Added by Acts 2007, 80th Leg., R.S., Ch.
885, Sec. 3.01, eff. April 1, 2009.
SUBCHAPTER D. BONDS
Sec. 507.151. AUTHORITY TO ISSUE BONDS; APPROVAL. (a) A
spaceport development corporation may issue bonds only if a site
in the territory of the authorizing entity has been designated as
the site for a spaceport.
(b) Bonds issued under this chapter must be approved by the
governing body of each political subdivision that authorized
creation of the spaceport development corporation.
Added by Acts 2007, 80th Leg., R.S., Ch.
885, Sec. 3.01, eff. April 1, 2009.
Sec. 507.152. BONDS NOT OBLIGATION OF CERTAIN ENTITIES. Bonds
issued by a spaceport development corporation are not an
obligation or a pledge of the faith and credit of this state, a
political subdivision that authorized the creation of the
corporation, or another political subdivision or agency of this
state.
Added by Acts 2007, 80th Leg., R.S., Ch.
885, Sec. 3.01, eff. April 1, 2009.
Sec. 507.153. BOND REQUIREMENTS. Bonds issued under this
chapter must:
(1) be payable only from the revenue of a spaceport developed by
the spaceport development corporation issuing the bonds;
(2) mature not later than 50 years after the date of issuance;
and
(3) state on their faces that the bonds are not an obligation of
the State of Texas or a political subdivision of this state,
other than the corporation that issued the bonds.
Added by Acts 2007, 80th Leg., R.S., Ch.
885, Sec. 3.01, eff. April 1, 2009.
SUBCHAPTER E. TAXES
Sec. 507.201. EXEMPTION FROM CERTAIN TAXES. (a) The property,
income, and operations of a spaceport development corporation are
exempt from taxes imposed by this state or a political
subdivision of this state.
(b) Tangible personal property located in the spaceport, such as
a spacecraft or other property necessary to launch the
spacecraft, is exempt from ad valorem taxation.
(c) Chapter 151, Tax Code, does not apply to tangible personal
property purchased by a person for use in a spaceport.
Added by Acts 2007, 80th Leg., R.S., Ch.
885, Sec. 3.01, eff. April 1, 2009.
Sec. 507.202. PAYMENT IN LIEU OF AD VALOREM TAXES. In lieu of
taxes, a spaceport development corporation shall pay to each
political subdivision of this state in which land owned by the
corporation is located an amount equal to the amount of ad
valorem taxes that would be imposed on that land if the land were
privately owned.
Added by Acts 2007, 80th Leg., R.S., Ch.
885, Sec. 3.01, eff. April 1, 2009.