S. 3306 · 117th Congress
SPACE Act
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Never voted on. It didn't reach a floor vote before the 117th Congress ended, so it expired. A bill has to be introduced again to be considered in a new Congress.
R
RubioSponsorNo cosponsors.
Space Protection of American Command and Enterprise Act or the SPACE Act
What it does: CRS summary · Introduced in Senate · Dec 2, 2021
Space Protection of American Command and Enterprise Act or the SPACE Act
This bill prohibits the purchase of certain telecommunications or aerospace equipment and services from China and requires reporting on investment by foreign persons in U.S. space companies.
The National Space Council shall submit a specified report to Congress on space investment competition from China and Russia.
No funds made available to the Department of Commerce or the National Aeronautics and Space Administration (NASA) may be used to purchase or lease telecommunications or aerospace hardware or software equipment or services from any telecommunications or aerospace corporation, subsidiary, or affiliate associated with China or the Communist Party of China.
The bill reduces the threshold beyond which a person must report to the Securities and Exchange Commission the acquisition of shares in a U.S. space company. Currently, a person must make such a report when that person's ownership exceeds 5% of a company's total issue of stock. This bill reduces that to 2% for the acquisition of shares in such a company.
The Department of Defense, in coordination with Commerce and the Department of the Treasury, shall submit annual reports to Congress on investment by foreign persons in activities conducted in the United States or by U.S. persons related to exploration, manufacturing, telecommunications, or national security activities involving space.
Written by the nonpartisan Congressional Research Service. All summary versions on Congress.gov
About this bill and sources
Official title: SPACE Act
Also known as: Space Protection of American Command and Enterprise Act
Latest action (Dec 2, 2021): Read twice and referred to the Committee on Commerce, Science, and Transportation.
Policy area: Science, Technology, Communications · Origin: Senate · Introduced: Dec 2, 2021
Official page on Congress.gov · Bill text (GovInfo) · Status record (XML)
No recorded floor vote found.