Description:
H.R. 1508 would establish certain policies and guidelines regarding the development of space resources by nonfederal entities. Existing international agreements authorize such activities under certain conditions, including requirements for national regulatory regimes to resolve liability, ownership, and operational issues. The bill would create a domestic framework for assigning property rights for resources from asteroids and for settling any related legal disputes. It also would direct the President to submit a report within six months of enactment on any administrative and statutory changes needed to implement federal programs and international agreements for those projects.
Assuming appropriation of the necessary amounts, CBO estimates that implementing H.R. 1508 would cost about $1 million over the 2016-2020 period. CBO anticipates that developing a policy framework for this nascent industry would require levels of expertise and effort similar to that of studies done by expert panels at the National Academies of Science and Public Administration. Other provisions in the bill would have no significant budgetary effects, CBO estimates. Enacting H.R. 1508 would not affect direct spending or revenues; therefore, pay-as-you-go procedures do not apply.
H.R. 1508 contains no intergovernmental or private-sector mandates as defined in the Unfunded Mandates Reform Act and would not affect the budgets of state, local, or tribal governments.
