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Sat, Feb 14, 2009

ACI-NA Praises Airport Provisions In Final Economic Stimulus Package

Includes AIP Money, Waiver Of Local Match Requirement

Lawmakers this week opted to fast track the 1,100-page, $800 billion Economic Stimulus bill, effectively preventing any meaningful review of the eight-inch-thick document... but Greg Principato, president of Airports Council International-North America (ACI-NA), had enough time to notice a number of airport provisions in the final agreement that met with his approval.

"The stimulus package will allow airports to move forward with much needed infrastructure projects while putting tens of thousands of people across the country to work," he said.

Principato says the final bill included the following provisions for airports:

  • $1.1 billion in Airport Improvement Program (AIP) funding with a requirement that up to 50 percent of the funds be obligated within 120 days and the rest within a year. The bill also waives the local match requirement, a provision strongly supported by ACI-NA.
  • $1 billion to accelerate procurement and installation of baggage screening and checkpoint security equipment at airports.
  • A two-year exemption for airport private activity bonds (PABs) from the Alternative Minimum Tax (AMT), including the refinancing of bonds issued within the past five years under the exemptions.

"Airports are an economic gateway for their communities, and today's investment by Congress will benefit them today by providing much need jobs and well into the future by ensuring the airports are ready to meet the evolving needs of the traveling public," Principato noted.

FMI: www.aci-na.org

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