US SB3875 | 2019-2020 | 116th Congress
Status
Spectrum: Moderate Partisan Bill (Republican 4-1)
Status: Introduced on June 3 2020 - 25% progression, died in committee
Action: 2020-06-03 - Read twice and referred to the Committee on Finance.
Pending: Senate Finance Committee
Text: Latest bill text (Introduced) [PDF]
Status: Introduced on June 3 2020 - 25% progression, died in committee
Action: 2020-06-03 - Read twice and referred to the Committee on Finance.
Pending: Senate Finance Committee
Text: Latest bill text (Introduced) [PDF]
Summary
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, 2023, 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.
Title
American Space Commerce Act of 2020
Sponsors
| Sen. Marco Rubio [R-FL] | Sen. Rick Scott [R-FL] | Sen. Ted Cruz [R-TX] | Sen. Roger Wicker [R-MS] |
| Sen. Dianne Feinstein [D-CA] |
History
| Date | Chamber | Action |
|---|---|---|
| 2020-06-03 | Senate | Read twice and referred to the Committee on Finance. |
Same As/Similar To
HB6783 (Related) 2020-05-08 - Referred to the House Committee on Ways and Means.
Subjects
Aviation and airports
Business investment and capital
Income tax deductions
Space flight and exploration
Spacecraft and satellites
Taxation
Business investment and capital
Income tax deductions
Space flight and exploration
Spacecraft and satellites
Taxation
US Congress State Sources
| Type | Source |
|---|---|
| Summary | https://www.congress.gov/bill/116th-congress/senate-bill/3875/all-info |
| Text | https://www.congress.gov/116/bills/s3875/BILLS-116s3875is.pdf |
