SPACE Act

The SPACE Act (S 1483) requires the National Space Council to report on Chinese and Russian space investment activities, including their military-civil fusion efforts and space technology development. It bans federal funds from purchasing certain telecommunications or aerospace goods/services from entities linked to the Chinese government, Communist Party, military, or specific state-owned corporations like China Aerospace Science and Technology Corporation. The bill also mandates new SEC disclosures for foreign investors owning over 2% of U.S. space-related companies and requires annual reports on foreign investment in U.S. space activities. These provisions directly affect U.S. government spending, covered entities (U.S. businesses in space/telecom sectors), and foreign investors in the U.S. space industry.