U.S. Commercial Space Launch Competitiveness Act

Spurring Private Aerospace Competitiveness and Entrepreneurship Act of 2015 or the SPACE Act of 2015 This bill requires the Department of Transportation (DOT) to report to specified congressional committees on: (1) the progress of the commercial space transportation industry in developing voluntary consensus standards or any other construction that promotes best practices, and (2) the status of the knowledge and operational experience acquired by the industry while providing flight services for compensation or hire to support the development of a safety framework. An independent, private systems engineering and technical assistance organization or standards development organization shall assess the readiness of the industry and the federal government to transition to a safety framework that may include regulations. DOT shall provide the committees a plan to update the methodology used to calculate maximum probable loss from claims with respect to commercially licensed space launch liability insurance and financial responsibility requirements through the use of a validated risk profile approach. The Government Accountability Office shall assess the plan. The liability coverage of licensees subject to third-party claims exceeding the amount of insurance or demonstration of financial responsibility is extended through December 31, 2023. Certain time constraints of commercial space launch and reentry experimental permit requirements are repealed and rockets as well as rocket designs are covered. DOT may issue an experimental launch or reentry permit notwithstanding the issuance of any launch or reentry license. Commercial space launch requirements apply to newly defined government astronauts. Liability insurance and financial responsibility and reciprocal waiver of claims requirements shall now cover space flight participants. Federal courts shall have sole jurisdiction of any action or tort arising from a licensed launch or reentry, which shall be decided under federal law. The National Aeronautics and Space Administration (NASA) shall arrange with an independent, private systems engineering and technical assistance organization to study frameworks for the management of space traffic and orbital activities. The sense of Congress is expressed about state commercial launch facilities.