(17) Section 70112(b)(1) of title 49, United States 
Code, is amended—
(A) by inserting ‘‘crew, space flight partici-
pants,’’ after ‘‘its contractors, subcontractors,’’; and 
(B) by inserting ‘‘or by space flight partici-
pants,’’ after ‘‘its own employees,’’. 
(18) Section 70112(b)(2) of title 49, United States 
Code, is amended—
(A) by inserting ‘‘crew, space flight partici-
pants,’’ after ‘‘transferee, contractors, subcontrac-
tors,’’; and 
(B) by inserting ‘‘or by space flight partici-
pants,’’ after ‘‘its own employees,’’. 
(19) Section 70113(a) of title 49, United States 
Code, is amended by inserting ‘‘, but not against a space 
flight participant,’’ after ‘‘subcontractor of a customer,’’. 
(20) Section 70113(f) of title 49, United States Code, 
is amended by striking ‘‘December 31, 2004.’’ and insert-
ing ‘‘December 31, 2007. This section does not apply to 
permits.’’. 
(21) Section 70115(b)(1)(D)(i) of title 49, United 
States Code, is amended by inserting ‘‘crew training site,’’ 
after ‘‘site of a launch vehicle or reentry vehicle,’’.
(22) Section 70119 of title 49, United States Code, 
is amended by striking paragraphs (1) and (2) and insert-
ing the following: 
‘‘(1) such sums as may be necessary for fiscal 
year 2005; 
‘‘(2) such sums as may be necessary for fiscal 
year 2006; and 
‘‘(3) such sums as may be necessary for fiscal 
year 2007.’’. 
(23) Section 70120 of title 49, United States Code, 
is amended by adding at the end the following new sub-
sections: 
‘‘(c) AMENDMENTS.—Not later than 12 months after 
the date of enactment of the Commercial Space Launch 
Amendments Act of 2004, the Secretary shall publish pro-
posed regulations to carry out that Act, including regula-
tions relating to crew, space flight participants, and per-
mits for launch or reentry of reusable suborbital rockets. 
Not later than 18 months after such date of enactment, 
the Secretary shall issue final regulations. 
‘‘(d) EFFECTIVE DATE.—(1) Licenses for the launch 
or reentry of launch vehicles or reentry vehicles with 
human beings on board and permits may be issued by the 
Secretary prior to the issuance of the regulations de-
scribed in subsection (c).
‘‘(2) As soon as practicable after the date of enact-
ment of the Commercial Space Launch Amendments Act 
of 2004, the Secretary shall issue guidelines or advisory 
circulars to guide the implementation of that Act until 
regulations are issued. 
‘‘(3) Notwithstanding paragraphs (1) and (2), no li-
censes for the launch or reentry of launch vehicles or re-
entry vehicles with human beings on board or permits may 
be issued starting three years after the date of enactment 
of the Commercial Space Launch Amendments Act of 
2004 unless the final regulations described in subsection 
(c) have been issued.’’. 
SEC. 4. STUDY ON THE GRADUAL ELIMINATION OF COM-
MERCIAL SPACE TRANSPORTATION LIABIL-
ITY RISK SHARING REGIME. 
Not later than 60 days after the date of enactment 
of this Act, the Secretary of Transportation shall enter 
into an appropriate arrangement with the National Acad-
emy of Public Administration to conduct a study of how 
best to gradually eliminate the liability risk sharing regime 
in the United States for commercial space transportation 
under section 70113 of title 49, United States Code. The 
study shall assess methods by which the liability risk shar-
ing regime could be eliminated by 2008 or as soon as pos-
sible thereafter and the impact those methods would be
likely to have on the commercial space transportation in-
dustry. The methods examined shall include incremental 
approaches. 
SEC. 5. TECHNICAL AMENDMENT. 
Section 102(c) of the Commercial Space Act of 1998 
is repealed.
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