RESTON, Va.--(BUSINESS WIRE)-- <\/p>\n
The American Institute of Aeronautics and Astronautics (AIAA) endorses California Senate Bill 19, The Space Flight Sales Tax Exemption Act. The bill, sponsored by Sen. Steve Knight (Rep. 21st Dist.), would give sale and use tax exemptions to equipment and materials used to construct facilities designed to launch and operate space vehicles. <\/p>\n
AIAA President Mike Griffin stated: With threats growing daily to the vibrant aerospace sector of Californias economy, AIAA and its members endorse the passage of California State Senate Bill 19, The Space Flight Sales Tax Exemption. This bill promises to alleviate some of the conditions that have hampered growth in this vital sector of Californias economy, and will allow aerospace firms in California to keep their high-paying jobs in the state. The bill also promises to spur innovation throughout the state, as it creates the incentive for companies that have not yet entered the aerospace marketplace to get into the market. The California aerospace sector is one of the main pillars of both the California economy and our nations economy, and passage of Senate Bill 19 will ensure that that pillar is a strong one for years to come. <\/p>\n
The Space Flight Sales Tax Exemption Act expands the current tax exemptions in the California code, which are extended to the gross receipts from the sale of, and the storage, use, or other consumption of, qualified property for use in space flight, and expands those exemptions to also include equipment and materials used to construct, reconstruct, or improve new or existing facilities designed to operate, launch, manufacture, fabricate, assemble, or process equipment that facilitates the renovation, rehabilitation, or reconstruction of commercial space launch sites. <\/p>\n
AIAA is the worlds largest technical society dedicated to the global aerospace profession. With more than 35,000 individual members worldwide, and 100 corporate members, AIAA brings together industry, academia, and government to advance engineering and science in aviation, space, and defense. For more information, visit http:\/\/www.aiaa.org<\/a>, or follow us on Twitter @AIAA. <\/p>\n American Institute of Aeronautics and Astronautics 1801 Alexander Bell Drive, Suite 500, Reston, VA 20191-4344 Phone: 703.264.7558 Fax: 703.264.7551 http:\/\/www.aiaa.org<\/a> <\/p>\n<\/p>\n <\/p>\n See the rest here: <\/p>\n AIAA Endorses California Senate\u2019s Space Flight Sales Tax Exemption Act<\/a><\/p>\n","protected":false},"excerpt":{"rendered":" RESTON, Va.--(BUSINESS WIRE)-- The American Institute of Aeronautics and Astronautics (AIAA) endorses California Senate Bill 19, The Space Flight Sales Tax Exemption Act. The bill, sponsored by Sen. Steve Knight (Rep. Continue reading