S. 2622: Space Ready Act

The **Space Ready Act** is a piece of legislation designed to authorize the National Aeronautics and Space Administration (NASA) to undertake a pilot program focused on infrastructure improvement projects at the Kennedy Space Center, as well as to create a new funding mechanism called the **Infrastructure Investment Fund**. Here are the key components of the bill:

1. Pilot Program

The Administrator of NASA is given the authority to conduct a pilot program that will involve public and private investment in specific infrastructure projects at the Kennedy Space Center.

2. Infrastructure Investment Fund

The bill establishes an **Infrastructure Investment Fund** within the U.S. Treasury. This fund will be dedicated to infrastructure investments made by NASA. Here are its key aspects:

• Establishment and Purpose

  The Fund will support infrastructure development projects at the Kennedy Space Center.

• Funding Details

  • Infrastructure Assessments

    NASA may include infrastructure assessment fees in agreements related to supporting public and commercial activities at the Kennedy Space Center. This includes funding for specific capital repair, maintenance, and improvement projects.

  • Deposits

    All collected assessments will be deposited into the Fund and will remain available until spent.

• Use of Funds

  Funds from the Fund will be used for conducting capital repairs, maintenance, and improvements on NASA-owned infrastructure. This includes renovation, rehabilitation, and other enhancements needed to support agreements made under existing law.

• Annual Reporting

  The Administrator must submit an annual report detailing the total amount collected, expenditures made, and the status of the Fund, including proposed uses for the upcoming year.

• Termination of Authority

  The authority to collect assessments for the Infrastructure Investment Fund will end on December 31, 2035, but existing agreements will remain unaffected.

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