Jack Kennedy reports that a bill that direct tax revenues from Virginia companies engaged in commercial human spaceflights or commercial spaceflight training to the Virginia Commercial Space Flight Authority has been reported out of the Senate Finance Committee.
Jack Kennedy informs me that there’s a move afoot in the Virginia Legislature to direct tax dollars generated by commercial human space entities in the state to support the Virginia Commercial Space Flight Authority and development of the Wallops Island spaceport. The provision in Senate Bill 1447 reads:
Income tax paid by commercial space flight entities.
Beginning July 1, 2011, and for each fiscal year thereafter, the net revenue generated by the corporate income taxes paid by corporations that engage in commercial human spaceflights or commercial spaceflight training shall be transferred to the Virginia Commercial Space Flight Authority, established pursuant to Article 2 (2.2-2201 et seq.) of Chapter 22 of Title 2.2. The Tax Commissioner shall make a written certification to the Comptroller within 15 days of the close of each calendar quarter providing an estimate of the net revenue generated by the corporate income taxes paid by the corporations that engage in commercial human spaceflights or commercial spaceflight training in the calendar quarter. Not later than 30 days after the close of each quarter, the Comptroller shall transfer to the Virginia Commercial Space Flight Authority an amount from the general fund that is equal to the estimate provided by the Tax Commissioner.
The Virginia Commercial Space Flight Authority and Holly Grove Vineyards are pleased to announceÂ â€˜Genesisâ€™, Â a new Virginia wine, with a very unique wine Â label celebrating the Mid-Atlantic Regional Spaceport (MARS) and Virginiaâ€™s return to space.Â Billie Reed, the Space Authorityâ€™s Executive Director will give â€˜Genesisâ€™ to his NASA hosts when he attends the launch of the Space Shuttle Discovery in Florida, scheduled for November 1, 2010.
The Alabama’s 5th Congressional District just keeps getting curiouser and curiouser. In fact, one could say it has descended into a farce.
If you recall, Rep. Parker Griffith switched from the Democratic to the Republican party last year, citing a lack of seriousness on the part of the Administration on defense and space issues. This was somewhat ironic because by going into the minority party, Griffith largely forfeited his ability to influence these policies. That includes the Administration’s plan to dismantle the Constellation program, an idea that Griffith strenuously opposes.
An academic symposium will be held this fall to explore the potential of what officials are calling “Virginia’s Spaceplex” in the Wallops Island area.
Accomack County and state officials met with representatives from several state universities Wednesday in Richmond to hear preliminary proposals for a concept study for the Wallops area, which would emphasize developing a vision for its potential and which eventually would lead to an economic impact analysis and concrete recommendations.
Entrepreneurs receive honors The Hampton Roads Business Journal
Inside Business in conjunction with Regent Universityâ€™s School of Global Leadership & Entrepreneurship hosted the 2009 Entrepreneurial Excellence Awards June 22 at The Founders Inn in Virginia Beach.
In all, 11 businesspeople received honors and Billie Reed, executive director of the Virginia Commercial Space Flight Authority, was given the 2009 Entrepreneur of the Year Award for his work to bring the authority from being 100 percent supported by public funds to 85 percent self-supported.