Proposed Tax Exemption for Space Flight Passes Senate

Denver, Colorado. April 30, 2014 – The Colorado Senate passed legislation that creates a sales and use tax exemption for equipment used in space travel, including space vehicles, propulsion systems, and property used in satellites or a space station. Similar exemptions are already in place in a handful of other states, and supporters of this bill say that it will keep Colorado’s aerospace industry competitive.

HB 1178 passed the Senate by a vote of 31-4 on Wednesday. The bill was sponsored by House Speaker Mark Ferrandino, D-Denver, and House Minority Leader Brian DelGrosso, R-Loveland. Earlier in the month it passed in the Colorado House of Representatives by a vote of 58-6.

The proposed tax exemption now heads to Gov. John Hickenlooper. He has until June 6 to decide whether to sign or veto the measure.