Senate Bill 3875
116th Congress(2019-2020)
American Space Commerce Act of 2020
Introduced
Introduced in Senate on Jun 3, 2020
Origin Chamber
Senate
Type
Bill
Bill
The primary form of legislative measure used to propose law. Depending on the chamber of origin, bills begin with a designation of either H.R. or S. Joint resolution is another form of legislative measure used to propose law.
Bill Number
3875
Congress
116
Policy Area
Taxation
Taxation
Primary focus of measure is all aspects of income, excise, property, inheritance, and employment taxes; tax administration and collection. Measures concerning state and local finance may fall under Economics and Public Finance policy area.
No Senate votes have been held for this bill.
Summary
American Space Commerce Act of 2020
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, 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.
June 3, 2020
06/03/2020
Read twice and referred to the Committee on Finance.
06/03/2020
Introduced in Senate
Public Record
Record Updated
Jan 11, 2023 1:46:18 PM