BILL TITLE: Wendell H. Ford Aviation Investment and Reform Act
BILL PURPOSE: Authorizes budget
resources forFederal Aviation Administrationprograms through FY2003 and makes
other amendments to aviation law.
OMB ESTIMATE: P.L. 106-181 makes numerous changes to direct spending
andreceipts. These includes extension of the aviation insurance program,
changes inpotential compensation under the Death on the High Seas Act,
restrictions on feescharged for certification services, and imposition of
criminal penalties for violations ofthe Act. OMB estimates that none of these
provisions will have a significant effect.
(Fiscal years; in millions of
dollars)
2000
2001
2002
2003
2004
2005
Net costs.................
*
*
*
*
*
*
CBO ESTIMATE: In addition to the provisions scored by OMB, CBO scores
a loss inrevenue related to provisions that would authorize airports to charge
higher passengerfacility fees and expand a pilot program that provides for the
use of federal airportimprovement grants to facilitate tax-exempt financing of
airport projects. CBO expectsthat these provisions will result in an increase
in tax-exempt financing and a subsequentrevenue loss.
(Fiscal years; in millions of
dollars)
2000
2001
2002
2003
2004
2005
Net costs.................
0
2
5
7
9
11
EXPLANATION OF DIFFERENCES BETWEEN OMB AND CBO ESTIMATES:
CBO scores revenue losses related to potential increases in the use of
tax-exemptfinancing by airports. OMB believes any such revenue loss is an
indirect effect of theAct and not scoreable for pay-as-you-go purposes.
CUMULATIVE EFFECT OF DIRECT SPENDING AND REVENUE LEGISLATIONENACTED
TO DATE:
