Level of Education
Doctoral
Keywords
NASA, funding
Abstract
Post the global financial crisis of 2008, the National Aeronautical and Space Administration (NASA) sought to expand the space economy through a public policy of commercialization. This has brought major changes to the composition of space mission funding strategies, now repositioned as public private partnerships (P3s). Formed to fund space missions with private finance in lieu of public funding, P3s are investment and risk-sharing vehicles evaluated by financial intermediary institutions, insurers, and at times, the courts in the case where there is foreign direct investment (FDI) agreement. For this reason, it is arguable P3s have exceptional influence on the scope and future of federal space policy, and consistently by way of state legislation. Florida legislation establishing the independent jurisdiction of Space Florida is example of how states are construing federal policy for commercial use and investment. March 12,2020, the Florida State Legislature unanimously passed bill CS/HB 717 (2020) - Space Florida Financing, authorized Space Florida validation of securitized bonds according to specified provisions, thus eliminating gubernatorial powers over the process. The talk addresses the biblical and federalist assumptions of U.S. Space Policy and considers the constitutionality of state level reforms coinciding with NASA’s commercialization mission.
Included in
Air and Space Law Commons, Business Law, Public Responsibility, and Ethics Commons, Comparative Politics Commons, Constitutional Law Commons, Economic Policy Commons, Finance and Financial Management Commons, Political Theory Commons, Public Policy Commons
The New Space Policy Regime and its Financial Foundation
Post the global financial crisis of 2008, the National Aeronautical and Space Administration (NASA) sought to expand the space economy through a public policy of commercialization. This has brought major changes to the composition of space mission funding strategies, now repositioned as public private partnerships (P3s). Formed to fund space missions with private finance in lieu of public funding, P3s are investment and risk-sharing vehicles evaluated by financial intermediary institutions, insurers, and at times, the courts in the case where there is foreign direct investment (FDI) agreement. For this reason, it is arguable P3s have exceptional influence on the scope and future of federal space policy, and consistently by way of state legislation. Florida legislation establishing the independent jurisdiction of Space Florida is example of how states are construing federal policy for commercial use and investment. March 12,2020, the Florida State Legislature unanimously passed bill CS/HB 717 (2020) - Space Florida Financing, authorized Space Florida validation of securitized bonds according to specified provisions, thus eliminating gubernatorial powers over the process. The talk addresses the biblical and federalist assumptions of U.S. Space Policy and considers the constitutionality of state level reforms coinciding with NASA’s commercialization mission.
