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  89R7718 CJC-D     By: Paul H.B. No. 3547       A BILL TO BE ENTITLED   AN ACT   relating to an exemption from the franchise tax for certain   qualified space companies.          BE IT ENACTED BY THE LEGISLATURE OF THE STATE OF TEXAS:          SECTION 1.  Subchapter B, Chapter 171, Tax Code, is amended   by adding Section 171.089 to read as follows:           Sec.   171.089.     EXEMPTION: QUALIFIED SPACE COMPANY. (a)     In   this section:                 (1)     "Qualified space company" means a corporation,   partnership, or other business entity primarily engaged in the   research, development, manufacturing, testing, or launching of   satellites, spacecraft, space vehicles, or related technologies   from locations in this state.                 (2)     "Satellite" means an artificial object and its   components that is intentionally placed into orbit around Earth or   another celestial body, including an object used to facilitate   communications, observe weather conditions, or carry scientific   instruments or observation platforms used for data collection,   broadcasting, or other services.                 (3)     "Spacecraft" means a vehicle or device and its   components designed for travel or operation in space, including a   crewed or uncrewed vessel used for exploration, transportation,   scientific research, communication, or defense purposes.                 (4)     "Space vehicle" means a vehicle or craft and its   components that is specifically designed to carry payloads,   satellites, equipment, or people into space, including a launch   vehicle, rocket, space shuttle, or other system used to transport   objects or people beyond the Earth's atmosphere.           (b)     A qualified space company is exempted from the franchise   tax.          SECTION 2.  Section 171.089, Tax Code, as added by this Act,   applies only to a report originally due on or after the effective   date of this Act.          SECTION 3.  This Act takes effect January 1, 2026.