American Space Commerce Act of 2023

Hozzl · 2025-06-11T00:18:00Z

Explore the details of Senate Bill 589 American Space Commerce Act of 2023 currently in Congress. Get insights into its purpose, current status, sponsors, and potential impact on Taxation. Stay informed on legislative developments.

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.

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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