OPTIONS TO PURCHASE LAND.

SEC. 127. OPTIONS TO PURCHASE LAND. (a) Study.—The Secretary of Transportation shall conduct a study on the purchase of options to purchase land for airport development. (b) Content.—In conducting the study under subsection (a), the Secretary shall examine the following: (1) Eligibility for funding.—Whether or not the purchase of options to purchase land for airport development should be eligible for funding under the Airport Improvement Program. (2) Conditions.—If the purchase of such options become eligible for funding under the Airport Improvement Program— (A) whether or not certain limitations should be imposed on such purchases; 106 STAT. 4886 (B) whether or not priority should be afforded to the funding of such purchases in relation to other airport development projects; and (C) whether or not certain environmental requirements should be imposed on such purchases. (c) Report.—Not later than December 31, 1993, the Secretary shall transmit to Congress a report on the results of the study conducted under subsection (a), together with any appropriate recommendations for legislative and administrative action.