A bill entitled the: "National Space Policy Act of 1986".

Title I: Declaration of Policy - Declares findings and purposes relating to the establishment of a comprehensive national civilian space and aeronautics policy.

Title II: National Space and Aeronautics Policy - Declares that the United States is committed to the expansion of the peaceful civilization of the space and atmospheric environments for the benefit of the Nation and all of mankind. Establishes certain principles pursuant to such commitment.

Title III: Program - Directs the National Aeronautics and Space Administration (NASA), in cooperation with appropriate private, governmental, and international groups, to pursue aggressive research and systems development in space and aeronautics science and technology, including specified programs.

Directs the Administrator of NASA, together with the Director of the Office of Science and Technology Policy, and after consultation with appropriate Federal agencies, to develop and submit to the Congress within 180 days after the enactment of this Act a preliminary 30-year plan, including proposed annual funding requirements and a detailed research and development schedule. Directs the Administrator to submit a final 30-year plan within one year after the enactment of this Act. Requires that status reports and plan revisions be submitted to the Congress annually in conjunction with the submission of budget requests beginning with the third fiscal year after the enactment of this Act.

Requires, beginning with the third fiscal year after its enactment, that the provisions of this Act be the general basis for the authorizations of funds for NASA consistent with the provisions of the National Aeronautics and Space Act of 1958.