President Barack Obama signed the National Aeronautics and Space Administration Authorization Act of 2010 on Monday, giving an additional flight to the space shuttle fleet before it is retired.

"It is important bipartisan legislation that charts a new course for space exploration, science, technology development, and aeronautics," NASA administrator Charles Bolden said in a statement.

On top of the extra trip, the act extends the life of the international space station until at least 2020. It authorizes $58.4 billion for NASA programs over the next three years, although the specifics of how and where the funds will be used have yet to be determined. The allocation will also speed up the development of a heavy-lift rocket, expected in 2011,it will go toward commercial space programs, and it will help earth science education programs.

The bill was passed by the Senate in August and by the House last week. President Obama's signature on it signifies the end of months of debate over the future of NASA.

"We have been given a new path in space that will enable our country to develop greater capabilities, transforming the state of the art in aerospace technologies," Bolden continued. "We will continue to maintain and expand vital partnerships around the world. It will help us retool for the industries and jobs of the future that will be vital for long-term economic growth and national security."

According to a CNN blog post, the two remaining space shuttle missions are slated for this November and February, and the extra launch would likely lift off in June of 2011.