H.R.3539 - 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. view all titles (3)

All Bill Titles

  • Short: Airport and Airway Trust Fund Financing Act of 2007 as reported to house.
  • Official: To amend the Internal Revenue Code of 1986 to extend financing for the Airport and Airway Trust Fund, and for other purposes. as introduced.
  • Short: Airport and Airway Trust Fund Financing Act of 2007 as introduced.

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Introduced
 
House
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Senate
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President
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09/17/07
 
 
 
 
 
 
 

Official Summary

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 gasolin

Official Summary

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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