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Airport and Airway Trust Fund Financing Act of 2007
To amend the Internal Revenue Code of 1986 to extend financing for the Airport and Airway Trust Fund, and for other purposes.
previous 110th session of congress Other Bill Titles (3 more) 9/19/2007--Reported to House amended, Part I. 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.
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This bill has no amendments.
Bill Status
| Introduced |  | Voted on by House | | Voted on by Senate | | Considered By President | | Bill Becomes Law |
| September 17, 2007 |
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