H.R.4676 - Space Transportation Investment Act of 2000106th Congress (1999-2000)
|Sponsor:||Rep. Cook, Merrill [R-UT-2] (Introduced 06/15/2000)|
|Committees:||House - Ways and Means|
|Latest Action:||06/15/2000 Referred to the House Committee on Ways and Means.|
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Summary: H.R.4676 — 106th Congress (1999-2000)All Bill Information (Except Text)
Space Transportation Investment Act of 2000 - Amends the Internal Revenue Code to allow a tax credit for the purchase of qualified space transportation vehicle provider stock (stock representing an investment in the development, production, and operation of commercial space transportation vehicles). Makes such credit a specified percentage of the amount of stock purchased during a calendar year, beginning with 50 percent for 2001 and gradually reducing such amount to ten percent for 2006 through 2010. Provides for the recapture of such credit when the stock issuer ceases to be qualified.
Introduced in House (06/15/2000)
Establishes a U.S. Commercial Space Transportation Vehicle Industry certification program to provide certification for tax credit qualification under the Code to multiple U.S. commercial space transportation vehicle providers developing vehicles with space transportation costs significantly below current levels. Directs the Secretary of Transportation to administer such program under a streamlined application process. Requires the program to provide eligibility for tax credits to investors to support financing of qualified commercial space transportation vehicle development ventures during startup phases. Excludes certification with respect to the construction, reconstruction, or reconditioning of space launch sites, or of any product which is not integral to the design, development, construction, reconstruction, or reconditioning of a space transportation vehicle. Provides for: (1) the nondisclosure of confidential information in connection with the application process; (2) appropriate consultation; and (3) program management. Deems a certification as granted unless the Secretary, within 120 days of application, determines that the provider has no reasonable possibility of significantly lowering space transportation vehicle costs. Requires a certified provider to annually verify the use of funds for appropriate purposes.