Summary: S.1260 — 108th Congress (2003-2004)All Information (Except Text)

Bill summaries are authored by CRS.

Shown Here:
Reported to Senate without amendment (07/24/2003)

(This measure has not been amended since it was introduced. The summary of that version is repeated here.)

Commercial Space Transportation Act of 2003 - Amends Federal transportation law to authorize appropriations for FY 2004 through 2008 to the Office of the Associate Administrator for Commercial Space Transportation within the Federal Aviation Administration (FAA).

Extends from December 31, 2004, through December 31, 2009, the commercial space transportation (CST) indemnification program under which the Secretary of Transportation shall pay successful third-party claims against CST licensees, contractors, subcontractors, or transferees for catastrophic losses resulting from licensed space launch activities, to the extent such claims exceed mandatory insurance (including self-insurance) coverage.

Directs the Secretary of Transportation to report to Congress on the need for a distinct regulatory regime for suborbital vehicles taking into account their unique characteristics and purposes.