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Code · BILL · 116th Congress · H.R. 2 (Reported in House) — To authorize funds for Federal-aid highways, highway safety programs, and transit programs, and for other purposes. · Sec. 1629

Sec. 1629. Airport innovative financing techniques

246 words·~1 min read·/bill/116/hr/2/rh/section-1629

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Section 47135 of title 49, United States Code, is amended to read as follows: The Secretary of Transportation may approve an application by an airport sponsor to use grants received under this subchapter for innovative financing techniques related to an airport development project. Such projects shall be located at airports that are not large hub airports. The Secretary may not approve more than 30 applications under this section in a fiscal year. The purpose of grants made under this section shall be— to provide information on using innovative financing techniques for airport development projects; to lower the total cost of an airport development project; or to safely expedite the delivery or completion of an airport development project.
In no case shall the implementation of an innovative financing technique under this section be used in a manner giving rise to a direct or indirect guarantee of any airport debt instrument by the United States Government. In this section, innovative financing techniques are limited to— payment of interest; commercial bond insurance and other credit enhancement associated with airport bonds for eligible airport development; flexible non-Federal matching requirements; use of funds apportioned under section 47114 for the payment of principal and interest of terminal development for costs incurred before the date of the enactment of this section; and such other techniques that the Secretary approves as consistent with the purposes of this section. .
Section 1001 shall not apply to this section and the amendments made by this section.
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