H1303: Northeast Florida Regional Spaceport Authority

Legislative Summary

Creates Northeast Florida Regional Spaceport Authority; provides purpose, responsibilities, powers, & duties; specifies authority territory; provides membership requirements, terms, powers, & duties of authority board of directors; provides for sovereign immunity; provides legal remedies for certain violations; provides for bond issuance, lien of pledges, & trust agreements; authorizes board to make certain investments; establishes fiscal year; provides insurance & safety program requirements; exempts authority from certain taxes; specifies authority ownership of rights to intellectual property; authorizes DOT to enter into joint participation agreement with authority for certain purposes; requires authority to develop spaceport master plan for submission to DOT & M.P.O.; authorizes DOT to participate in capital cost of certain projects.