Space Commercial Human Ascent Serving Expeditions Act (Space CHASE Act) - Amends Federal law concerning commercial space transportation to specify that the Secretary of Transportation shall carry out commercial space launch activities through the Associate Administrator for Commercial Space Transportation.
Provides for the issuance of experimental permits for an unlimited number of launches of reusable suborbital rockets.
Subjects to specified conditions reusable suborbital rockets and holders of licenses or permits to launch and reenter crews and space flight participants.
Requires crew and space flight participants to execute reciprocal waivers of claims with licensees and permitees and the Federal government.
Makes liability indemnification program requirements inapplicable to space flight participants.
Extends liability insurance and financial responsibility requirements for three years.
Requires the Secretary to arrange for the National Academy of Public Administration to study how best to gradually eliminate by 2008 or so the liability risk sharing regime for commercial space transportation.