To extend the liability indemnification regime for the commercial space transportation industry.

[AI summary unavailable — showing source text] Extends liability insurance and financial responsibility requirements with respect to commercial space transportation through December 31, 2009. Directs the Secretary of Transportation to arrange with a nonprofit entity for a study: (1) regarding the liability risk sharing regime in the United States for commercial space transportation; (2) to assess methods by which the liability risk sharing regime could be eliminated and whether alternative steps would be needed to maintain a viable and competitive U.S. space transportation industry if it were eliminated; and (3) to examine liability risk sharing in other nations with commercial launch capability and evaluate the direct and indirect impact that eliminating the regime would have on the competitiveness of the U.S. commercial space launch industry in relation to foreign commercial launch providers and on U.S. assured access to space.…