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    <number>1363</number>
    <updateDate>2026-01-09T23:25:02Z</updateDate>
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    <introducedDate>2023-03-03</introducedDate>
    <congress>118</congress>
    <legislationUrl>https://www.congress.gov/bill/118th-congress/house-bill/1363</legislationUrl>
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      <constitutionalAuthorityStatementText>&lt;pre&gt;[Congressional Record Volume 169, Number 41 (Friday, March 3, 2023)][House]From the Congressional Record Online through the Government Publishing Office [&lt;a href="https://www.gpo.gov"&gt;www.gpo.gov&lt;/a&gt;]By Mr. POSEY:H.R. 1363.Congress has the power to enact this legislation pursuantto the following:Article I, Section 8, Clause 1 of the Constitution to``provide for the common defense and general welfare of theUnited States.''The single subject of this legislation is:To amend the Internal Revenue Code of 1986 to provide bonusdepreciation for certain space launch expenditures[Page H1115]&lt;/pre&gt;</constitutionalAuthorityStatementText>
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      <item>
        <title>American Space Commerce Act of 2023</title>
        <congress>118</congress>
        <number>589</number>
        <type>S</type>
        <latestAction>
          <actionDate>2023-03-01</actionDate>
          <text>Read twice and referred to the Committee on Finance.</text>
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        <text>Referred to the Subcommittee on Trade.</text>
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        <actionDate>2023-03-03</actionDate>
        <text>Referred to the House Committee on Ways and Means.</text>
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        <fullName>Rep. Posey, Bill [R-FL-8]</fullName>
        <firstName>Bill</firstName>
        <lastName>Posey</lastName>
        <party>R</party>
        <state>FL</state>
        <district>8</district>
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    <cosponsors>
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        <bioguideId>S001200</bioguideId>
        <fullName>Rep. Soto, Darren [D-FL-9]</fullName>
        <firstName>Darren</firstName>
        <lastName>Soto</lastName>
        <party>D</party>
        <state>FL</state>
        <district>9</district>
        <sponsorshipDate>2023-03-03</sponsorshipDate>
        <isOriginalCosponsor>True</isOriginalCosponsor>
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    <policyArea>
      <name>Taxation</name>
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    <subjects>
      <legislativeSubjects>
        <item>
          <name>Aviation and airports</name>
          <updateDate>2023-03-29T16:48:26Z</updateDate>
        </item>
        <item>
          <name>Business investment and capital</name>
          <updateDate>2023-03-29T16:48:26Z</updateDate>
        </item>
        <item>
          <name>Income tax deductions</name>
          <updateDate>2023-03-29T16:48:26Z</updateDate>
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        <item>
          <name>Space flight and exploration</name>
          <updateDate>2023-03-29T16:48:26Z</updateDate>
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          <name>Spacecraft and satellites</name>
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        <name>Taxation</name>
        <updateDate>2023-03-24T15:47:29Z</updateDate>
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        <actionDesc>Introduced in House</actionDesc>
        <updateDate>2023-03-24T18:16:16Z</updateDate>
        <cdata>
          <text>&lt;p&gt;&lt;b&gt;American Space Commerce Act of 2023&lt;/b&gt;&lt;/p&gt; &lt;p&gt;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 &lt;i&gt;qualified domestic space launch property&lt;/i&gt; as property placed in service before January 1, 2033, 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.&lt;/p&gt;</text>
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    </summaries>
    <title>American Space Commerce Act of 2023</title>
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        <titleType>Display Title</titleType>
        <titleTypeCode>45</titleTypeCode>
        <title>American Space Commerce Act of 2023</title>
        <updateDate>2024-07-24T15:23:27Z</updateDate>
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        <title>American Space Commerce Act of 2023</title>
        <updateDate>2024-05-24T13:41:51Z</updateDate>
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        <title>To amend the Internal Revenue Code of 1986 to provide bonus depreciation for certain space launch expenditures, and for other purposes.</title>
        <updateDate>2024-03-18T20:25:17Z</updateDate>
        <billTextVersionName>Introduced in House</billTextVersionName>
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        <type>Introduced in House</type>
        <date>2023-03-03T05:00:00Z</date>
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            <url>https://www.govinfo.gov/content/pkg/BILLS-118hr1363ih/xml/BILLS-118hr1363ih.xml</url>
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    <latestAction>
      <actionDate>2024-12-17</actionDate>
      <text>Referred to the Subcommittee on Trade.</text>
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    <dc:rights>Pursuant to Title 17 Section 105 of the United States Code, this file is not subject to copyright protection and is in the public domain.</dc:rights>
    <dc:contributor>Congressional Research Service, Library of Congress</dc:contributor>
    <dc:description>This file contains bill summaries and statuses for federal legislation. A bill summary describes the most significant provisions of a piece of legislation and details the effects the legislative text may have on current law and federal programs. Bill summaries are authored by the Congressional Research Service (CRS) of the Library of Congress. As stated in Public Law 91-510 (2 USC 166 (d)(6)), one of the duties of CRS is "to prepare summaries and digests of bills and resolutions of a public general nature introduced in the Senate or House of Representatives". For more information, refer to the User Guide that accompanies this file.</dc:description>
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