CHAPTER 507. SPACEPORT DEVELOPMENT CORPORATIONS

State Codes and Statutes

Statutes > Texas > Local-government-code > Title-12-planning-and-development > 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;

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.

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.

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.

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.

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.

State Codes and Statutes

State Codes and Statutes

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