On August 5, 2022, the Commission adopted a Notice of Inquiry concerning novel in-space servicing, assembly, and manufacturing (ISAM) activities. The Commission sought comment on the technological and commercial readiness of ISAM capabilities and what steps the Commission could take to foster innovation in the industry as these capabilities develop. The Commission then adopted a Notice of Proposed Rulemaking on February 15, 2024. The NPRM proposed a framework for licensing space stations conducting ISAM activities, including a proposed definition of ISAM space stations to be included in the Commission’s rules and a new proposed rule section, 47 CFR 25.126, to lay out all licensing requirements for ISAM space stations.  The NPRM proposes to exempt ISAM applicants from existing processing round and first-come-first-served processes, subject to requirements not to impede existing or future operations in the frequency bands.  The NPRM also proposes that ISAM frequency use would be reviewed on a case-by-case basis and operators would need to comply with the Commission’s existing orbital debris mitigation rules, including for debris remediation operations.  Finally, the notice proposes a one-year grace period for ISAM operators to file a surety bond or else meet Commission milestone requirements.