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119-s-1560119th CongressWALLET

Secure U.S. Leadership in Space Act of 2025

Sponsored By: Senator Moody, Ashley [R-FL]

Introduced

Summary

Treats spaceports like airports for tax-exempt municipal financing. This bill would expand the tax-exempt "exempt facility" bond rules so spaceport projects can qualify for airport-style municipal financing and related carve-outs.

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  • State and local governments and municipal issuers would be able to use tax-exempt bonds for spaceport facilities by adding spaceports to the list of Section 142(a)(1) eligible facilities. The bill also includes a special rule that lets spaceport land leased from the United States be treated as owned by a governmental unit when lease and sublease conditions are met.
  • Spaceport operators and manufacturers would get a clear statutory definition covering manufacturing, assembly, repair, flight control, launch and reentry services, and transfers of crew or cargo. The definition also specifies "space cargo" and "spacecraft" and adopts related terms from 51 U.S.C. § 50902.
  • Investors and bond limits would see two changes. The bill adds an exception so U.S. payments of rent or user fees do not automatically make bonds federally guaranteed and it adds a state volume cap rule allowing exempt facility bonds if at least 95% of net proceeds fund a spaceport.

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Bill Overview

Analyzed Economic Effects

1 provisions identified: 1 benefits, 0 costs, 0 mixed.

Tax-exempt bonds for spaceports

If enacted, this bill would let spaceport projects use tax-exempt private activity bonds like airports. To qualify, at least 95% of net bond proceeds must pay to provide a qualifying spaceport. A qualifying spaceport would be near a launch or reentry site. It would cover manufacturing or repair, flight control, launch or reentry services, and moving crew or space cargo. The bill would allow spaceport property on leased federal land to count as government-owned for bond rules if lease tests are met. It would also say a bond is not federally guaranteed just because the U.S. pays rent or fees. These changes would apply to obligations issued after the date of enactment.

Sponsors & CoSponsors

Sponsor

Moody, Ashley [R-FL]

FL • R

Cosponsors

  • Sen. Luján, Ben Ray [D-NM]

    NM • D

    Sponsored 5/1/2025

Roll Call Votes

No roll call votes available for this bill.

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