Calif. Equalization Board Backs Space Tech Tax Break

Law360, New York (March 26, 2014, 5:57 PM EDT) -- The California Board of Equalization on Tuesday put its support behind a proposal being floated in the state Legislature that would exempt privately constructed space stations, rockets and related space exploration technology from property taxes for the next decade.

BOE members voted 5-0 in support of the exemption outlined in AB 777, which is currently being floated in the California Senate. The California Assembly overwhelming passed the measure earlier this year.

The tax break is intended to boost the state's private space industry. California is already...
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