National Aeronautics and Space Administration Act, 1986

National Aeronautics and Space Administration Act, 1986 - Authorizes appropriations for FY 1986 to the National Aeronautics and Space Administration (NASA) for specified activities relating to: (1) research and development; (2) space flight, control, and data communications; (3) construction of facilities; and (4) research and program management (including additional or supplemental amounts to cover any increases in salary, pay, retirement, or other employee benefits authorized by law).

Permits appropriations for research and development and for space flight, control and data communications to be used for any items of a capital nature (other than acquisition of land) which may be required at locations other than NASA installations for the performance of research and development contracts, and for grants to nonprofit institutions of higher education, or to nonprofit organizations whose primary purpose is the conduct of scientific research, for purchase or construction of additional research facilities. Requires the Administrator of NASA (the Administrator) to notify specified congressional officers and committees whenever the cost of a facility exceeds a specified amount. Permits funds appropriated for research and development, for space flight, control and data communications, or for construction of facilities to remain available without fiscal year limitation.

Permits appropriations for research and program management to be used for scientific consultations or extraordinary expenses upon the approval of the Administrator.

Provides for a $10,000 reduction in the total amount authorized under this Act under the heading of construction facilities. Permits, after such reduction is made in the sum total of funds for the individual projects authorized under such heading, such funds for construction of any specified facilities: (1) in the discretion of the Administrator, to be varied upward ten percent; or (2) following a report by the Administrator to specified congressional committees, to be varied upward 25 percent to meet unusual cost variations.

Permits one-half of one percent of the funds appropriated for research and development or for space flight, control and data communications to be transferred to the appropriation for construction of facilities. Authorizes the expenditure of such transferred funds, together with a specified amount of the funds appropriated for construction of facilities, to construct, expand, or modify laboratories and other installations. Requires the Administrator, 30 days before expending such funds, to notify specified congressional officers and committees of the nature, cost, and necessity of such construction.

Prohibits, until 30 days pass after congressional receipt of a full explanation by the Administrator, the use of funds appropriated pursuant to this Act for any program: (1) deleted by the Congress; (2) in excess of the amount actually authorized for the particular program under provisions for research and development, space flight, control and data communications, and research and program management; or (3) which has not been presented to either of the specified congressional committees.

Declares that it is the sense of the Congress that it is in the national interest that consideration be given to geographical distribution of Federal research funds whenever feasible, and that NASA should explore ways of doing so.

Prohibits any civil space station authorized under specified provisions of this Act from being used to: (1) carry or place in orbit any nuclear weapon or any other weapon of mass destruction; (2) install any such weapon on any celestial body; or (3) station any such weapon in space in any other manner. Allows such civil space station to be used only for peaceful purposes.

Prohibits any space shuttle pricing policy for the Space Transportation System (STS) for commercial and foreign users from being established and implemented for FY 1989 through 1991 until 30 days have passed after the President or the Administrator (or the Administrator's designee) has transmitted to specified congressional officers and committees a written report setting forth such policy. Requires such congressional committees to review such report and, if they determine it necessary or appropriate, recommended legislation to the Congress to establish a pricing policy for the STS which is in the best interest of the Nation and more completely achieves the goals and objectives of the Nation's civil space program.

Authorizes the Inspector General of NASA to administer to or take from any person an oath, affirmation, or affidavit whenever necessary in performing functions assigned by the Inspector General Act of 1978, and to designate investigators or other employees to do so.

Amends the National Aeronautics and Space Administration Authorization Act, 1985, to extend by six months the deadline for submission, to the President and specified committees by the National Commission on Space, of a long range plan for U.S. civilian space activity.

Directs NASA during FY 1986 to defer payment to the Federal Financing Bank of the amount attributable to principal for which NASA is obligated during such fiscal year as a result of a specified contract regarding track and data relay satellite services (which was entered into under specified provisions of the National Aeronautics and Space Administration Authorization Act, 1978). Requires the amount of any such deferred payment to be added to the amount of principal for which NASA is obligated during FY 1993 as a result of such contract. Authorizes NASA to defer until FY 1994 any portion of the total amount for which it is obligated for FY 1993 which is in excess of the total amount for which it was obligated during FY 1992. Authorizes the Administrator to renegotiate such contract upon determination that such renegotiation is necessary to enable NASA to defer payments as provided under this Act.

Amends the Commercial Space Launch Act to authorize appropriations for FY 1986 to the Secretary of Transportation to carry out such Act (which provides for licensing and liability insurance requirements for commercial space launches).