Airport and Airway Trust Fund Financing Act of 2007

Bill: 110-hr-3539
Sponsor: Rep. Rangel, Charles B. [D-NY-15]
Introduced: 2007-09-17 in the House
Policy area: Taxation
Subjects: Air traffic
Airports
Aviation fuels
Economics and Public Finance
Energy
Excise tax
Government trust funds
Tax rates
Transportation and Public Works

Summary:
action_date: 2007-09-17
text: 
Airport and Airway Trust Fund Financing Act of 2007 - Amends the Internal Revenue Code to: (1) impose an excise tax on aviation-grade kerosene; (2) increase the tax rate for aviation gasoline; (3) extend through FY2011 excise taxes on transportation by air of persons and property and on aviation gasoline and aviation-grade kerosene; (4) extend through FY2011 the expenditure authority for the Airport and Airway Trust Fund; and (5) dedicate increased revenues resulting from this Act to air traffic control modernization.

action_date: 2007-09-19
text: 
Airport and Airway Trust Fund Financing Act of 2007 - Amends the Internal Revenue Code to (1) impose an excise tax on aviation-grade kerosene of 35.9 cents per gallon (4.3 cents per gallon for commercial aviation uses); (2) increase to 24.1 cents per gallon the tax rate for aviation gasoline; and (3) extend through FY2011 the excise tax on the transportation by air of persons and property and the excise tax on aviation gasoline and aviation-grade kerosene.

Extends through FY2011 the expenditure authority for the Airport and Airway Trust Fund. 

Dedicates revenues from the taxes imposed on aviation gasoline and aviation-grade kerosene to carry out air traffic control modernization.


Legislative actions:
action_date: 2007-09-20
text: For Further Action See H.R.2881.
action_date: 2007-09-20
text: On September 20, 2007, House agreement to H.Res. 664 added text similar to H.R. 3539 to H.R. 2881, the FAA Reauthorization Act of 2007.
action_date: 2007-09-19
text: Placed on the Union Calendar, Calendar No. 207.
action_date: 2007-09-19
text: Committee on Transportation discharged.
action_date: 2007-09-19
text: Committee on Transportation discharged.
action_date: 2007-09-19
text: Reported (Amended) by the Committee on Ways and Means. H. Rept. 110-334, Part I.
action_date: 2007-09-19
text: Reported (Amended) by the Committee on Ways and Means. H. Rept. 110-334, Part I.
action_date: 2007-09-18
text: Ordered to be Reported (Amended) by Voice Vote.
action_date: 2007-09-18
text: Committee Consideration and Mark-up Session Held.
action_date: 2007-09-18
text: Referred to the Subcommittee on Aviation.
action_date: 2007-09-17
text: Referred to the Committee on Ways and Means, and in addition to the Committee on Transportation and Infrastructure, for a period to be subsequently determined by the Speaker, in each case for consideration of such provisions as fall within the jurisdiction of the committee concerned.
action_date: 2007-09-17
text: Referred to the Committee on Ways and Means, and in addition to the Committee on Transportation and Infrastructure, for a period to be subsequently determined by the Speaker, in each case for consideration of such provisions as fall within the jurisdiction of the committee concerned.
action_date: 2007-09-17
text: Referred to the Committee on Ways and Means, and in addition to the Committee on Transportation and Infrastructure, for a period to be subsequently determined by the Speaker, in each case for consideration of such provisions as fall within the jurisdiction of the committee concerned.
action_date: 2007-09-17
text: Introduced in House
action_date: 2007-09-17
text: Introduced in House