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Wednesday, March 05, 2008

Virginia Governor Tim Kaine Signs 'ZeroGravity, ZeroTax' Into Law

Virginia Governor Tim Kaine signed into law the so-called 'Zero Gravity, Zero Tax' measure patroned by State Senator William C. Wampler, Jr. (R-Bristol) Sunday at the state capitol in Richmond.

Virginia will levy no income tax on business earnings that relate to human spaceflight training or actual space flights launched from the state's spaceport or for spaceflight in with NASA COTS contracts. The measure becomes effective July 1, 2008 for the tax year beginning January 1, 2009.

Governor Kaine signed the nation's first Spaceflight Laibility and Immunity law, sponsored by State Delegate Terry G. Kilgore (R-Gate City), last year. Florida is now seeking to duplicate Virginia's informed consent law with other states expected to follow.