Bill > HR1034

This bill, the Airport and Airway Trust Fund Financing Reauthorization Act of 2011, extends the authority for the Airport and Airway Trust Fund to receive funding and spend money until September 30, 2014. This means that certain taxes that go into the Trust Fund, which are used to finance airport and air traffic control system improvements, will continue to be collected for a longer period. Specifically, it extends the higher excise taxes on aviation fuels, the tax on transporting people and property by air, and the ability to spend money from the Trust Fund. The Internal Revenue Code is amended to reflect these extended dates, replacing the previous expiration date of April 1, 2011, or March 31, 2011, with the new end date of October 1, 2014, or September 30, 2014, respectively.