SPACE Act

Summary

Space Protection of American Command and Enterprise Act or the SPACE Act This bill prohibits the purchase of certain telecommunications or aerospace equipment and services from China and requires reporting on investment by foreign persons in U.S. space companies. The National Space Council shall submit a specified report to Congress on space investment competition from China and Russia. No funds made available to the Department of Commerce or the National Aeronautics and Space Administration (NASA) may be used to purchase or lease telecommunications or aerospace hardware or software equipment or services from any telecommunications or aerospace corporation, subsidiary, or affiliate associated with China or the Communist Party of China. The bill reduces the threshold beyond which a person must report to the Securities and Exchange Commission the acquisition of shares in a U.S. space company. Currently, a person must make such a report when that person's ownership exceeds 5% of a company's total issue of stock. This bill reduces that to 2% for the acquisition of shares in such a company. The Department of Defense, in coordination with Commerce and the Department of the Treasury, shall submit annual reports to Congress on investment by foreign persons in activities conducted in the United States or by U.S. persons related to exploration, manufacturing, telecommunications, or national security activities involving space.

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Timeline

1. 2 December 2021

   Introduced

   Read twice and referred to the Committee on Commerce, Science, and Transportation.

   Source: IntroReferral

2. 2 December 2021

   Introduced

   Introduced in Senate

   Source: IntroReferral

Votes

No vote records are attached yet.

Versions

• Introduced in Senate · 2 December 2021 · Official file

Documents

3 official files

• Introduced in Senate (text)

  Introduced in Senate · EN · 2 December 2021

  ViewDownloadOpen at official source

• Introduced in Senate (PDF)

  Introduced in Senate · EN · 2 December 2021

  ViewDownloadOpen at official source

• Introduced in Senate

  summary · EN · 2 December 2021

  Open at official source

Sponsors

• Sen. Rubio, Marco [R-FL] · R · Sponsor
• · sscm00 · Standing

Related records

• related to → SPACE Act