Revises requirements for experimental permits related to commercial space launch activities.
Authorizes the Secretary of Transportation to issue an experimental permit for a particular reusable suborbital vehicle (RSV) for research and development to test design concepts, equipment, or operating techniques, regardless of whether they are new (as under current law) or already existing.
Strikes the requirement that crew training for which the permit may be used must occur before a commercial license for launch or reentry is obtained.
Allows a permit to authorize an unlimited number of launches and reentries for a particular RSV rocket design (as well as for a particular RSV, as under current law).
Repeals the prohibition against issuance of a permit, and the automatic invalidation of an existing permit, after a license has been issued for the launch or reentry of an RSV of a particular design.
Authorizes the Secretary to issue a permit regardless of whether a license has already been issued. Declares that the issuance of a license may not invalidate a permit.