Sec. 101. AIRPORT IMPROVEMENT PROGRAM

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## SEC. 101 AIRPORT IMPROVEMENT PROGRAM ###

(a)Authorization of Appropriations Section 48103(a) of title 49, United States Code, is amended by striking paragraph

(7)and inserting the following: > > #### “(7) > > $2,041,120,218 for the period beginning October 1, 2023, and ending on May 10, 2024.” > . ###

(b)Obligation Authority Subject to limitations specified in advance in appropriation Acts, sums made available pursuant to the amendment made by subsection

(a)may be obligated at any time through September 30, 2024, and shall remain available until expended. ###

(c)Program Implementation For purposes of calculating funding apportionments and meeting other requirements under sections 47114, 47115, 47116, and 47117 of title 49, United States Code, for the period beginning on October 1, 2023, and ending on May 10, 2024, the Administrator of the Federal Aviation Administration shall— ####

(1)first calculate such funding apportionments on an annualized basis as if the total amount available under section 48103 of such title for fiscal year 2024 was $3,350,000,000; and ####

(2)then reduce by 39 percent— #####

(A)all funding apportionment amounts calculated under paragraph (1); and #####

(B)amounts made available pursuant to subsections

(b)and (f)(2) of section 47117 of such title. ###

(d)Extension of Project Grant Authority Section 47104(c) of title 49, United States Code, is amended in the matter preceding paragraph

(1)by striking “March 8, 2024,” and inserting “May 10, 2024,”. ###

(e)Extension of Special Rule for Apportionments Section 47114(c)(1)(J) of title 49, United States Code, is amended by striking “March 8, 2024,” and inserting “May 10, 2024,”.