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The previous Congress introduced several pieces of legislation intended to help develop an orbital economy, including proposing tax credits and loan guarantees. These proposed pieces of legislation were:
- H.R.2177 - The Invest in Space Now Act of 2001
Allows for a maximum of $4,410 million of tax credit spread over 8 years (2002-2009) at varying percent of the total investment, with the maximum being 50% for 2002-04.
- H.R.2443 - Space Tourism Promotion Act of 2001
Allows for loan guarantees of up to 85% of the loan, with a maximum aggregate amount of loan commitments that may be guaranteed at any one time of $2,000 million. Also allows for excluding from taxation any capital gains made on equity in a space tourism company.
- H.R.2504 - Zero Gravity, Zero Tax Act of 2001
Allows for a tax credit for investment in space corporations and excludes from taxation any capital gains made on that investment.
For further information, please go to:
http://thomas.loc.gov/bss/d107query.html
January 3, 2003
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