Amends the Internal Revenue Code of 1986 to exclude from gross income gain on the sale or exchange of any stock of a qualified space tourism corporation held for more than a year.
Requires the Secretary of Transportation to issue regulations to: (1) govern activities necessary to ensure the safe operation of passenger-carrying launch and reentry vehicles and spacecraft for space tourism and activities related to the provision and safe operation of habitable facilities in outer space for space tourism; and (2) prevent the growth of orbital debris resulting from activities associated with space tourism.
Prohibits: (1) the use of launch, reentry, and space travel vehicles owned by the Government for the transport of any individuals other than those engaged in or supporting the conduct of official business or scientific or engineering research and development (R&D), except in emergencies; and (2) the U.S. portion of the International Space Station from being visited or occupied by any individuals other than those engaged in or supporting the conduct of such business or R&D and those authorized by relevant international agreements, except in emergencies.
Requires the use of other Federal facilities and infrastructure, such as launch ranges and data relay satellites, to be made available to commercial entities engaged in space tourism on a cost-reimbursable basis to the extent that excess capacity exists.