Commercial Space Launch Act Amendments of 1988

[AI summary unavailable — showing source text] Commercial Space Launch Act Amendments of 1988 - Amends the Commercial Space Launch Act to include among the responsibilities of the Secretary of Transportation, in administering such Act, the encouragement, facilitation, and promotion of commercial space launches by the private sector, consistent with U.S. space policy. Directs the Secretary, in facilitating and encouraging private sector acquisition of U.S. surplus launch property, to take into account the availability of comparable property under reasonable terms from domestic non-Government sources. Revises insurance requirements for persons licensed to provide launch services. Allows such persons, as an alternative to obtaining liability insurance, to demonstrate financial responsibility sufficient to compensate third-party claims arising from death, bodily injury, or loss of or damage to property resulting from licensed activities. Limits this requirement to the lesser of $500,000,000 or the maximum liability insurance available on the world market at a reasonable cost. Sets out corresponding requirements, but at a maximum of $100,000,000, with respect to claims by the United States for loss of or damage to U.S. property. Req…