Space Business Incentives Act of 1995

Space Business Incentives Act of 1995 - Amends the Internal Revenue Code to allow a deduction for an amount equal to the aggregate amount paid during the taxable year for the purchase of qualified Commercial Space Stock.

Excludes gain on the sale or exchange of qualified space corporation stock held for more than five years, with limitations.

Provides for the treatment of space launch and launch support facility bonds as exempt facility bonds.

Excludes from gross income: (1) income from the commercial sale of any product manufactured in space and returned to Earth; and (2) income from any services performed in space in a commercial space activity.

Exempts a product which was manufactured in space and which was launched from and returned to Earth or manufactured at a facility in outer space from all Federal excises, imposts, and duties and any other Federal tariffs.

Directs the President to encourage State and local governments to offer tax and other incentives to encourage commercial space activities.