Extension of Regulatory and Liability Relief for Commercial Space Travel
This law extends the period during which the federal government cannot impose mandatory safety regulations on commercial space flight passengers, relying instead on voluntary industry standards. Furthermore, it extends financial protection for space companies until 2033, meaning that in the event of a catastrophic accident, costs exceeding the company's insurance may be covered by public funds. The goal is to accelerate the growth of commercial space tourism.
Key points
Mandatory federal safety regulations for crew and passengers in commercial space flight are paused for at least 5 years, promoting voluntary standards set by the industry itself.
The government extends the guarantee to cover financial claims from space accidents that exceed a company's insurance until 2033, shifting the ultimate risk onto taxpayers.
The licensing process is streamlined for space companies already working with federal agencies like NASA, aiming to accelerate sector development.
Expired
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