Red Huber / MCT

A SpaceX Falcon 9 rocket launches, Friday, March 1, 2013 from Cape Canaveral Air Force Station for its second resupply mission to the International Space Station.

Capitol Alert: Jerry Brown signs tax break for private space companies

Published: Tuesday, Apr. 29, 2014 - 4:34 pm

SPACEX2OS.JPGGov. Jerry Brown has signed legislation offering a 10-year property tax break to private space companies, his office announced Tuesday.

The bill, which passed the Legislature with bipartisan support, was promoted by its author, Assemblyman Al Muratsuchi, D-Torrance, as a measure to help California become a hub for the private space industry, including firms such as Hawthorne-based SpaceX.

According to a legislative analysis, Assembly Bill 777 is estimated to result in a reduction of local property tax revenue of about $1 million annually.

Brown signed the bill without comment, but his interest in space goes back decades to when, as governor before from 1975 to 1983, he proposed a $5.8 million communications satellite system. He was mocked for the idea, while proponents said he was ahead of his time.

"I actually wanted to have a state satellite, " Brown said in 2012. "Couldn't pull it off."

PHOTO: A SpaceX Falcon 9 rocket lifts off from launch Pad 40 at Cape Canaveral Air Force Station in Cape Canaveral, Fla., Friday, April 18, 2014. Red Huber/Orlando Sentinel/MCT.

© Copyright The Sacramento Bee. All rights reserved.

Read more articles by David Siders



LATEST BEE POLITICAL VIDEOS
Sacramento Bee Job listing powered by Careerbuilder.com
Quick Job Search
Sacramento Bee Jobs »
Buy
Used Cars
Dealer and private-party ads
Make:

Model:

Price Range:
to
Search within:
miles of ZIP

Advanced Search | 1982 & Older

TODAY'S CIRCULARS