Request to the 117th US Congress
on behalf of the Foundation for the Future Support for the SPACE ACT of 2021

REQUEST

The Foundation for the Future, to initiate debate and consideration on the future of space development and the urgency for the primacy of the United States to support a private/public sector federally chartered corporation for space infrastructure and enhancement of projects to the Stars, supports the introduction and passage, in the 117th Congress, of the " Space Public- private Advanced Commercialization Enterprise" SPACE ACT of 2021. The proposed bill seeks to begin the bi-partisan, and unique aspect of future commercial and other purposes of Space development, enhanced by Congressional Committee and legislative process including Congressional review and support.

BACKGROUND

The SPACE ACT of 2021 builds upon the priority bi-partisan and US primacy in space policy that was initiated during the Kennedy-Johnson Presidencies in direct response to Sputnik, Soviet manned space travels and our directive to be the first on the Moon with Apollo. The Foundation for the Future supports the precedents of Congress in passing federally chartered corporations, such as COMSAT ACT, to move the US forward in telecommunications satellite technology, and other corporate bills in our past to deal with important national needs, such as electric power development with the TVA during the depression era. We face a similar "race" to the stars that requires a joint public private sector entity designed to fund and support Space development and infrastructure, similar to the building of the Erie Canal, the Transcontinental Railroad, our air, sea and road highways serving the public, but now we need to focus in Space.

For additional information on the SPACE ACT and how to support its passage please contact Tim Chrisman, Executive Director, Foundation for the Future at tim@f4f.space or John Chwat, Director of Government Relations at johnchwat@mckeongrp.com

A BILL


To Amend Title 31, United State Code

To Provide for the Establishment, and Regulations of a Federally Chartered Corporation

Be it enacted by the Senate and House of Representatives of the United State of America in Congress assembled,

 

Title I – Short Title
Sec.101. This Act may be cited as the “SPACE Act of 2021.”

 

Title II—Declaration of Policy
Sec.201.To achieve the objectives and to carry out the purposes of this Act—

(a) The Congress declares that it is the policy of the United States to establish, in conjunction and in cooperation with the private commercial sector, a SPACE Corporation, responsive to their shareholders and stakeholders and the American public to develop space into the future.

(b)  The Congress declares that the SPACE Corporation shall cooperate with all United States Government agencies supporting space, programs, space development and infrastructure and research including future space technologies, exploration and other related areas.

(c)  TheCongressdeclaresthattheSPACECorporationshallsupportmaximumcompetition for all projects in space and maintain these projects and the provisions of this Act for the public benefit and to ensure that all comply with applicable United States laws and regulations.

(d)  The Congress declares that the SPACE Corporation shall work with educational institutions, with a special emphasis on K-12, undergraduate and graduate college, community colleges and other academic or educational organizations on future space development or programs included in this Act.

 

Title III – Creation of the Corporation
Sec.301. There is hereby authorized to be created a SPACE Corporation (Space Public-private Advanced Commercialization Enterprise)
Sec.302. The Space Corporation is established as a wholly owned government corporation subject to Title 31, Chapter 91, United States Code
Sec.303. Section 9101(3) of Title 31, United States Code, is amended by inserting after subparagraph (P) the following: “(Q) the SPACE Corporation.”
Sec.304. The President of the United States shall appoint incorporators, by and with the advice and consent of the US Senate, who shall serve as the initial board of directors until the first annual meeting of stockholders or until their successors are elected and qualified. Such incorporators shall arrange for an initial stock offering and take whatever other actions are necessary to establish the corporation including the filing of articles of incorporation as approved by the President.

Title IV - Directors and Officers Sec.401.

a)  The corporation shall have a board of directors, consisting of individuals who are citizens of the United States, composed of thirteen(13) members, five of whom are to be selected by the President of the United States, by and with the advice and consent to the US Senate, composed on one member each nominated by the Speaker of the US House of representatives and one member nominated by the Majority Leader of the US Senate, and the remaining six members nominated by the President of the United States based on their qualifications and investments in the Corporation at the time of incorporation. The thirteen board of directors shall be nominated for terms staggered every two years.

b)  The corporation shall have an executive committee, nominated by the President of the United State, by and with the advice and consent of the US Senate, chaired by a President and Chief Executive Officer, a Chief Financial Officer, a Chief Operating Officer, a General Counsel, a Chief Risk Management Officer, Chief Logistics Officer. The initial members of the Executive Committee shall be approved by the Board of directors for a term of 6 years. All officers serving shall be citizens of the United States.

 

Title V—Financing of the Corporation
Sec.501. The corporation is authorized to issue and have outstanding, in such amounts as it shall determine, shares of stock, without par value and which shall carry voting rights and be eligible for dividends. The shares of stock initially offered shall be determined by the corporation, no less than fifty-one percent of which shall be reserved for the initial board of directors and the remaining forty-nine percent in a manner to encourage the widest distribution to the American public. No one directors shall own more that ten percent of any initial shares of voting stocks.
Sec.502. There is hereby authorized to be appropriated for the Corporation such amount by the United States Congress for an initial five-year basis to implement the provision of this Act. Following this initial five-year authorized appropriations, the corporation shall be required to be revenue neutral and provide financial reports to the Congress and the US Treasury Department in this regard.

 

Title VI—Powers of the Corporation Sec.601.

(a) In order to carry out the purposes of this Act, the Board shall have the following powers

  1. To issue SPACE BONDS, for the financing of projects defined in this Act and to further space development and infrastructure programs of the corporation. These bonds will be regulated by the US Treasury Department, provide interest on bond disbursements, and issued for the purposes of the corporations and in the public interest;

  2. To make SPACE COMMERCIAL DEVELOPMENT LOANS to corporations and small businesses for projects of the corporation in this Act and that such loans will be guaranteed by the US Treasury department who shall also provide regulations and requirements for such loans.

  3. To make SPACE GRANTS to small businesses to develop or implement projects of the corporation in this Act;

  4. To make SPACE ACADEMIC RESEARCH GRANTS for projects of the corporation in this Act;

  5. To make SPACE DIRECT SPONSORSHIP AWARDS to private sector organizations and corporations to implement any of the projects included in this Act.

(b) In order to carry out the purposes of this Act, the Corporation is authorized to review projects for financing and support, approved by the board of directors, including the following areas:

  1. Space Access (To, from and through space)

i. Space transportation technologies

ii. Space Port and Transport facilities

iii. Autonomous logistics and transportation architectures
iv. Redundant, sustainable spaceports, launch facilities and operations

v. Orbital transfer systems and technologies
vi. Reliable space to ground transportation systems

vii. Beyond-orbit positioning and timing

viii. Civil reserve space fleet

2. Space Sustainment (technologies required to live, work, and survive in space/moon/mars/beyond)

i. Orbital, lunar, and Martian fuel refining
ii. Synthetic gravity systems for orbital facilities

iii. Space communications
iv. Space construction (habitats, stations...etc.)

v. Asteroid and space mineral development vi. Zero-G medical technologies and facilities

vii. Space-based data centers
viii. Food production, in orbit, on the moon, Mars and beyond

ix. Zero-G manufacturing
x. Beyond-orbit high speed communications

xi. Strategic fuel / material reserves

3. Space Support (Earth-based technologies, infrastructure, and intermodal connections needed to support advanced space economy)

i. Advanced material foundries (graphene, carbon nanotubes...etc.)

ii. Intermodal integration of spaceports with existing transportation networks
iii. Space-based solar power
iv. Innovations in space-related manufacture and production including but 
not limited to medicines, energy

v. Space commodities exchange
vi. National space laboratory, in partnership with the Department of Energy

 

Title VII – National Defense and Other considerations Sec.801.

(a) The US Government reserves the right in cases of war or national emergency declared by the US Congress or the President of the United States to take possession of property of the Corporation during this period and must pay reasonable and fair damages to be determined by a court of law that might result or suffer from contracts and other obligations of the Corporation for purposes and action under this Act. The Corporation will cooperate with the US Government during these emergencies.

 

Title VIII – Impact of International Space Development Sec.901.

(a) The SPACE Corporation shall review and advise the Committees and leaders of the US Congress and applicable US Government agencies and the White House, and others designated to receive this information, on foreign space activities that may or may not be in conflict with US policy.

(b) The SPACE Corporation shall review all requests by the US government on foreign impacts within the Geostationary Earth Orbit and on other planets and to make recommendation thereto.

 

Title IX – Reports to the US Congress.
Sec. 1001. The President of the SPACE Corporation shall transmit to the US Congress in January of each year an annual report on all aspects of their operations and budget and shall include a comprehensive description of the activities and accomplishments during the preceding year together with an evaluation of such activities in furtherance of the projects under this Act.

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EXECUTIVE CONTACT

FOUNDATION ADDRESS

PO Box 321
Merrifield, VA 22116

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© 2021 by The Foundation For The Future