§47133. Restriction on use of revenues
Primary source
Verbatim text below is from the United States Code (GovInfo), a public-domain U.S. government work.
Full Text
§47133. Restriction on use of revenues
(a)
(1) the airport;
(2) the local airport system; or
(3) any other local facility that is owned or operated by the person or entity that owns or operates the airport that is directly and substantially related to the air transportation of passengers or property.
(b)
(1)
(2)
(A) the sale is approved by the Secretary;
(B) funding is provided under this subchapter for any portion of the public sponsor's acquisition of airport land; and
(C) an amount equal to the remaining unamortized portion of any airport improvement grant made to that airport for purposes other than land acquisition, amortized over a 20-year period, plus an amount equal to the Federal share of the current fair market value of any land acquired with an airport improvement grant made to that airport on or after October 1, 1996, is repaid to the Secretary by the private owner.
(3)
(c)
Editorial Notes
Amendments
2012—Subsec. (b). Pub. L. 112–95, designated existing provisions as par. (1), inserted heading, and added pars. (2) and (3).
Statutory Notes and Related Subsidiaries
Effective Date of 2012 Amendment
Pub. L. 112–95, title I, §149(b), Feb. 14, 2012, 126 Stat. 32, provided that: "The amendments made by subsection (a) [amending this section] shall apply to grants issued on or after October 1, 1996."
Effective Date
Except as otherwise specifically provided, section applicable only to fiscal years beginning after Sept. 30, 1996, and not to be construed as affecting funds made available for a fiscal year ending before Oct. 1, 1996, see section 3 of Pub. L. 104–264, set out as an Effective Date of 1996 Amendment note under section 106 of this title.
Use of Mineral Revenue at Certain Airports
Pub. L. 112–95, title VIII, §813, Feb. 14, 2012, 126 Stat. 124, provided that:
"(a)
"(b)
"(c)
"(1) enters into a written agreement with the Administrator that sets forth a 5-year capital improvement program for the airport, which—
"(A) includes the projected costs for the operation, maintenance, and capacity needs of the airport in order to comply with applicable design and safety standards of the Administration; and
"(B) appropriately adjusts such costs to account for inflation;
"(2) agrees in writing—
"(A) to waive all rights to receive entitlement funds or discretionary funds to be used at the airport under section 47114 or 47115 of title 49, United States Code, during the 5-year period of the capital improvement plan described in paragraph (1);
"(B) to perpetually comply with sections 47107(b) and 47133 of such title, unless granted specific exceptions by the Administrator in accordance with this section; and
"(C) to operate the airport as a public-use airport, unless the Administrator specifically grants a request to allow the airport to close; and
"(3) complies with all grant assurance obligations in effect as of the date of the enactment of this Act [Feb. 14, 2012] during the 20-year period beginning on the date of enactment of this Act.
"(d)
"(e)
"(f)
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