The Case for a Regional Reading of Spaceport Bonds

Financial Services attorney Eduardo Rojas was cited in Celadon Financial Group's Celadon Spaceport Monitor newsletter in a column about how to interpret the spaceport bond provisions in the One Big Beautiful Act. Section 70309 of law states that a spaceport bond can finance a facility "located at or in close proximity to a launch site or reentry site" but leaves "close proximity" undefined. The meaning of that phrase will determine whether the new authority covers area only contained within a fence line or extends regionally. The authors of the column argue for the latter, and they cite Ed's comments during a May Global Spaceport Alliance (GSA) webinar drawing an analogy to Federal Aviation Administration (FAA) rules for airport-related facilities. During the program, he also called for clear rules from the U.S. Department of the Treasury, saying he "would prefer that...Treasury come out with regulations on this as opposed to...the [drib and drab] of people going with private letter rulings."