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
$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
$1 billion to accelerate procurement and installation of
baggage screening and checkpoint security equipment at
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
"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,"