A bill to amend the Internal Revenue Code of 1986 to provide bonus depreciation for certain space launch expenditures, and for other purposes.
American Space Commerce Act of 2021
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.
Referred to the House Committee on Ways and Means.
Introduced in Senate
Read twice and referred to the Committee on Finance.
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