Amends Federal law concerning commercial space transportation to require the Secretary of Transportation to ensure that each approved license for commercial space launch and reentry activities includes minimum standards to protect the health and safety of crews and space flight participants, taking into account the inherently risky nature of human flight.
Extends the application review periods by the end of which the Secretary must: (1) issue an experimental permit for commercial launch and reentry activities after receiving an application; or (2) inform the applicant of any pending issue and action required to resolve such issue if the Secretary has not made such a decision.