Revitalizing America's Commercial Entrepreneurs for Space Act or RACE for Space Act - Authorizes the Secretary of Defense, in order to assist the Secretary of Transportation (DOT) with respect to private-sector involvement in commercial space activities and public-private partnerships pertaining to space transportation infrastructure (STI), to: (1) maximize the use of Department of Defense (DOD) STI by the private sector, (2) maximize the effectiveness and efficiency of the DOD STI, (3) reduce the cost of STI services provided by DOD, (4) encourage commercial space activities by enabling investment in the DOD STI by non-federal entities engaged in commercial space activities, and (5) foster cooperation between DOD and such entities.
Establishes the Defense Cooperation Space Launch Account for such purposes.
Requires an annual report from the Secretary to the congressional defense and appropriations committees on funds and equipment accepted and used for such purposes.