2010 Session

Budget Amendments - SB30 (Member Request)

Chief Patron: Wampler
Taxes collected from commercial spaceflight activities (language only)

Item 3-5.12 #1s

Item 3-5.12 #1s

Adjustments and Modifications to Tax Collections
Tax Collections from Commercial Spaceflight Activities

Page 381, following line 35, insert:
Subsequent to July 1, 2010, any state sales and use tax or corporate income tax that is collected from the gross sales of commercial human spaceflights or commercial spaceflight training sold in or by Virginia corporations shall be transferred to the Virginia Commercial Space Flight Authority.  The transfer shall occur no later than ninety days after the tax is collected by the state.  Fifty percent  of said transfer shall be used by the Authority for general spaceport operations, and the remaining fifty percent shall be used for teacher and high school student ZeroG flights for STEM education, in consultation with the Virginia Department of Education."

(This amendment dedicates prospective sales and or corporate income tax revenues that may result from the sale of human spaceflights or commercial spaceflight training to the Commercial Space Flight Authority for operations and educational space flight simulation activities.)