H.R. 4721, to amend title 49, United States Code, to extend authorizations for the airport improvement program, to amend the Internal Revenue Code of 1986 to extend the funding and expenditure authority of the Airport and Airway Trust Fund, and for other purposes

H.R. 4721

To amend title 49, United States Code, to extend authorizations for the airport improvement program, to amend the Internal Revenue Code of 1986 to extend the funding and expenditure authority of the Airport and Airway Trust Fund, and for other purposes

Date
March 14, 2016 (114th Congress, 2nd Session)

Staff Contact
Robert Goad

Floor Situation

On Monday, March 14, 2016, the House will consider H.R. 4721, the, under suspension of the rules. H.R. 4721 was introduced on September, 2016, by Rep. Bill Shuster (R-PA) and was referred to the Committee on Transportation and Infrastructure, and in addition, to the Committee on Ways and Means and the Committee on Science, Space, and Technology.

Bill Summary

H.R. 4721 extends the authorization for several Federal Aviation Administration (FAA) programs, which are set to expire on March 31, 2016, until July 15, 2016. In addition, the bill also extends the Airport and Airway Trust Fund collection authority through March 31, 2017.

Background

Most FAA programs are financed through the Airport and Airway Trust Fund (AATF), sometimes referred to as the Aviation Trust Fund. Revenues for the fund are derived from aviation-related excise taxes on passengers, cargo, and fuel. In fiscal year 2014, the AATF provided over 80 percent of the FAA’s total annual funding, with the remainder coming from general fund appropriations.[1] In 2013, the AATF had revenues of almost $12.9 billion and maintained a cash balance of more than $13 billion.[2] The funding authorization for the Federal Aviation Administration (FAA), included in the Airport and Airway Extension Act of 2015, expires on March 31, 2016. The last long-term reauthorization for the Federal Aviation Administration (FAA) was the FAA Modernization and Reform Act of 2012 (P.L. 112-95).

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[1] See FAA Fact Sheet
[2] See CRS Report, Issues in the Reauthorization of the Federal Aviation Administration (FAA), January 29, 2015.

Cost

A Congressional Budget Office cost estimate is currently not available.

Additional Information

For questions or further information please contact Robert Goad with the House Republican Policy Committee by email or at 6-1831.