The Florida Democrat will show legislation Tuesday that would give tax breaks worth 20 percent of their outlays to investors in private space-related businesses. The Commercial Space Jobs and Investment Act would help attract engineers and scientists to the zones and create jobs in a space industry facing uncertainty, Nelson said.
Nelson's bill would amend the 1986 tax code to give investors a credit worth 20 percent of their investment in businesses that create launch vehicles, re-entry vehicles, related equipment or are part of those operations. The investment would have to be for no less than five years.
The bill also would raise a tax credit for research and development in these zones from 20 percent to 30 percent if it is conducted on space-related tests in those enterprise zones.