Space Investment Tax Equity Act of 1985

[AI summary unavailable — showing source text] Space Investment Tax Equity Act of 1985 - Amends the Internal Revenue Code to allow an investment tax credit for property used in space if such property is a spacecraft, or is used on a spacecraft, which is substantially controlled from one or more facilities located in the United States. Treats property used in space as depreciable property if such property would be depreciable if used on earth. Treats certain income derived from activities conducted in space as United States source income.…