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United States · Bill · S

S. 1126 (99th)

Space Tax Investment Equity Act of 1985

openUnited States· United States Congress· EN

Introduced

14 May 1985

Last action

—

Status

Committee on Finance requested executive comment from OMB, Treasury Department.

Sponsors

—

Subjects

Discovery layer

Source updated

29 August 2025

Official sourceView documentsShare

Summary

Space Tax Investment Equity Act of 1985 - Amends the Internal Revenue Code to allow an investment tax credit for any tangible property which is predominantly used or operated in space and which is either a qualified spacecraft (a craft predominantly used or operated in space and controlled from locations within the United States) or is used or operated upon such a spacecraft. Treats any tangible property used in space as five-year depreciable property for purposes of the accelerated cost recovery system (ACRS). Allows an income tax credit for increasing research activities for research conducted in space. Treats income derived from commercial activity in space aboard a qualified spacecraft as income derived from sources within the United States.

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Documents

1 official file

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