SpaceX-Backed Bill Renewing Tax Break Goes to California Governor

A California property tax exemption benefitting SpaceX and other companies that make components for space flight would be renewed through 2028 under a bill lawmakers approved Wednesday.

The bill (S.B. 419) from state Sen. Richard Roth (D) would also subject the nine-year-old exemption to the same performance measures that state law requires for income and sales tax breaks. The bill, which was supported by SpaceX and Virgin Galactic, won a final vote of 39-0 from the Senate on Sept. 13 to agree to amendments made by the Assembly. It passed the Assembly 80-0 Sept. 12 and first ...