Document ID: chunk:federal_register_of_legislation:C2018C00042:section:3
Version: federal_register_of_legislation:C2018C00042
Segment Type: section
Provision Reference: s 3
Character Range: 10058–10728

3  Simplified outline
  The following is a simplified outline of this Act:

         • This Act provides for the leasing of certain airports.
         • Airport land and other airport assets will be transferred from the Federal Airports Corporation (FAC) to the Commonwealth.
         • The Commonwealth will grant an airport lease to a company.  The company is called an airport‑lessee company.
         • Immediately after the grant of the airport lease, the Commonwealth may transfer or lease certain assets to the airport‑lessee company.
         • Certain employees, assets, contracts and liabilities of the FAC will be transferred to the airport‑lessee company.