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Legislation sets up space property rights

Image: Asteroid mining
An artist’s conception shows an asteroid being mined by robots. (Credit: Planetary Resources)

After months of consideration, Congress is finishing up work on legislation that establishes legal rights for U.S. citizens to own resources in outer space – a key requirement for asteroid mining ventures like Planetary Resources.

“Many years from now, we will view this pivotal moment in time as a major step toward humanity becoming a multiplanetary species,” Eric Anderson, co-founder and co-chairman of the Redmond-based company, said today in a statement. “This legislation establishes the same supportive framework that created the great economies of history, and it will foster the sustained development of space.”

The legislation also extends the regulatory “learning period” for commercial spaceflight ventures through 2023, confirms that the International Space Station should stay in operation through 2024, and extends indemnification of commercial launches through 2025.

The Senate and House passed different versions of the legislation, known as H.R. 2262 and S. 1297, earlier this year – but it took until today for the Senate to pass an amendment that incorporates provisions agreed upon by both houses of Congress. The measure was sent back to the House for final passage, and if the legislation is approved as expected, it will be sent onward to the White House for President Barack Obama to sign into law.

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By Alan Boyle

Mastermind of Cosmic Log, contributing editor at GeekWire, author of "The Case for Pluto: How a Little Planet Made a Big Difference," president of the Council for the Advancement of Science Writing. Check out "About Alan Boyle" for more fun facts.

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