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American Space Commerce Act of 2023
6/11/2025, 12:18 AM
Summary of Bill S 589
The American Space Commerce Act of 2023, introduced in the 118th Congress on March 1, 2023, aims to address matters related to space commerce. The bill, designated as S. 589, includes provisions regarding the regulation and facilitation of commercial activities in space. Specific directives and actions proposed in the bill are not detailed in the context provided, but the focus is on promoting commercial ventures in space and potentially outlining regulatory frameworks for such activities. The bill's full text and specific directives can be accessed through the official PDF version available at the provided URL.
Congressional Summary of S 589
American Space Commerce Act of 2023
This bill allows a special allowance for bonus depreciation for qualified domestic space launch property and extends the termination of such allowance until the end of 2032. The bill defines qualified domestic space launch property as property placed in service before January 1, 2033, that is (1) a space transportation vehicle or payload that is launched from the United States, or (2) other property or equipment placed in service to facilitate a space launch from the United States.
Read the Full Bill
Current Status of Bill S 589
Bill S 589 is currently in the status of Bill Introduced since March 1, 2023. Bill S 589 was introduced during Congress 118 and was introduced to the Senate on March 1, 2023. Bill S 589's most recent activity was Read twice and referred to the Committee on Finance. as of March 1, 2023
Bipartisan Support of Bill S 589
Total Number of Sponsors
1Democrat Sponsors
0Republican Sponsors
1Unaffiliated Sponsors
0Total Number of Cosponsors
4Democrat Cosponsors
1Republican Cosponsors
3Unaffiliated Cosponsors
0Policy Area and Potential Impact of Bill S 589
Primary Policy Focus
TaxationPotential Impact Areas
- Aviation and airports
- Business investment and capital
- Income tax deductions
- Space flight and exploration
- Spacecraft and satellites
Alternate Title(s) of Bill S 589
American Space Commerce Act of 2023
American Space Commerce Act of 2023
A bill to amend the Internal Revenue Code of 1986 to provide bonus depreciation for certain space launch expenditures, and for other purposes.
Comments
Sponsors and Cosponsors of S 589
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