November 16, 2015

Asteroid Property Rights Bill on its way to the President’s Desk for Signature into Law

Planetary Resources has a lot to celebrate today as a historic piece of legislation is on its way to be signed into law.

H.R. 2262 recognizes the right of U.S. citizens to own asteroid resources they obtain in space, and we at Planetary Resources commend the members of Congress who promoted the historic legislation.

Last week the Senate passed this landmark bill and today the House of Representatives has voted in favor of the legislation. The bill will now go to the President to be signed into law.

This critical legislation creates a pro-growth environment for the development of the commercial space industry by encouraging private sector investment and ensuring a more stable and predictable regulatory regime. This law is important for the industry and is integral to protecting and supporting U.S. interests as the commercial space sector continues to expand.

And our team could not be more ecstatic:

“We are proud to have the support of Congress. Throughout history, governments have spurred growth in new frontiers by instituting sensible legislation. Long ago, The Homestead Act of 1862 advocated for the search for gold and timber, and today, H.R. 2262 fuels a new economy that will open many avenues for the continual growth and prosperity of humanity. This off-planet economy will forever change our lives for the better here on Earth,” said Chris Lewicki, President and Chief Engineer, Planetary Resources, Inc.

Peter Marquez, Vice President of Global Engagement, Planetary Resources, Inc., said, “Planetary Resources is grateful for the leadership shown by Congress in crafting and passing H.R. 2262. We applaud the members of Congress who have led this effort and look forward to President Obama signing the bill into law. Marco Rubio (R-FL), Lamar Smith (R-TX), Patty Murray (D-WA), Kevin McCarthy (R-CA), Bill Posey (R-FL) and Derek Kilmer (D-WA) have been unwavering in their support and leadership for the growth of the U.S. economy into the Solar System. Our nation’s continued leadership and prosperity in space is enabled by this new law and we appreciate the forward-looking stance and active role of our Government’s leaders. 

Some of the main supporters of the bill in Washington DC shared their excitement with us as well:

Marco Rubio (R-FL) said, “Throughout our entire economy, we need to eliminate unnecessary regulations that cost too much and make it harder for American innovators to create jobs,” Rubio said. “The reforms included here make it easier for our innovators to return Americans to suborbital space and will help the American space industry continue pushing further into space than ever before. I’m proud the final bill includes proposals I had previously introduced in the Senate, including one related to commercial recovery of space resources. This bill is an important win for Florida’s space coast and the entire space exploration community.”

Senator Murray (D-WA) said, “I am glad that we’ve taken this important step forward to update our federal policies to make sure they work for innovative businesses creating jobs in Washington state.  Washington state leads in so many ways, and I’m proud that local businesses are once again at the forefront of new industries that will help our economy continue to grow.”

Chairman Lamar Smith (R-TX) said, “The natural resources of our Solar System have great potential to facilitate and support our human endeavors, both in outer space and on Earth. Commercial space companies in the United States are making significant investments to develop technical capabilities that will allow us to explore and use outer space resources. This bill enables this new industry and provides guidance for future entrepreneurs.”

Congressman Posey (R-FL) said, “This bipartisan, bicameral legislation is a landmark for American leadership in space exploration. Recognizing basic legal protections in space will help pave the way for exciting future commercial space endeavors. Asteroids and other objects in space are excellent potential sources of rare minerals and other resources that can be used to manufacture a wide range of products here on Earth and to support future space exploration missions. Americans willing to invest in space mining operations need legal certainty that they can keep the fruits of their labor, and this bill provides that certainty.”

Congressman Kilmer (R-WA) said, “The commercial space industry in Washington state is leading the way in developing the cutting edge technology necessary to support human space exploration. The U. S. Commercial Space Launch Competitiveness Act will give these ventures the framework they need to continue to innovate, and to keep the United States at the head of this growing, global industry. I congratulate the Senate for taking this step, and I look forward to the House quickly sending this bill to President Obama’s desk.”

As Planetary Resources continues to gain progress towards our mission to prospect for and extract valuable resources from Asteroids, we look forward to continued support and acceleration of our growing industry.

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