A bill to improve the transition between experimental permits and commercial licenses for commercial reusable launch vehicles.

Amends commercial space launch licensing requirements.

Authorizes the Secretary of Transportation to issue an experimental permit for a particular reusable suborbital rocket (as under current law) or rocket design after a license has been issued for the launch or reentry of a rocket of that design. Declares that any permits already issued shall remain valid for research and development and other specified purposes.