Sec. 503. Adjustment for inflation of TSA service security fees and fee levels

245 words·~1 min read·/bill/114/hr/3777/ih/section-503

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Subsection

(c)of section 44940 of title 49, United States Code, is amended by adding at the end the following new paragraph: For fiscal year 2016 and each subsequent fiscal year, the amount of a fee under this subsection shall be adjusted to reflect the percentage (if any) of the average of the chained Consumer Price Index for the preceding 12-month period compared to the chained Consumer Price Index for the preceding fiscal year. . Subsection (i)(4) of such section is amended by adding at the end the following new subparagraph: For fiscal year 2026, and each subsequent fiscal year, the amount in effect for the preceding fiscal year, as adjusted to reflect the percentage (if any) in the average of the chained Consumer Price Index for the preceding 12-month period compared to the chained Consumer Price Index for preceding fiscal year. . Such section is further amended by adding at the end the following new subsection: In calculating the amount of the fee under subsection

(c)and the fiscal year amounts under subsection (i)(4)(K), the Under Secretary— shall round the amount of any increase in the Consumer Price Index to the nearest dollar; and may ignore any such increase of less than 1 percent. For purposes of this section, the term chained Consumer Price Index means the Chained Consumer Price Index for All Urban Consumers (C–CPI–U), as published in its initial form by the Bureau of Labor Statistics of the Department of Labor. .