INCOME FROM AIRSPACE RIGHTS-OF-WAY.

SEC. 126. INCOME FROM AIRSPACE RIGHTS-OF-WAY. (a) Requirement.—Chapter 1 of title 23, United States Code, is amended by striking out section 156 (relating to highways crossing Federal projects) and inserting in lieu thereof the following: “§ 156. Income from airspace rights-of-way “States shall charge, as a minimum, fair market value, with exceptions granted at the discretion of the Secretary for social, environmental, and economic mitigation purposes, for the sale, use, lease, or lease renewals (other than for utility use and occupancy or for transportation projects eligible for assistance under this title) of right-of-way airspace acquired as a result of a project funded in whole or in part with Federal assistance made available from the Highway Trust Fund (other than the Mass Transit Account). This section applies to new airspace usage proposals, renewals of prior agreements, arrangements, or leases entered into by the State after the date of the enactment of the Federal-Aid Highway Act of 1987. The Federal share of net income from the revenues obtained by the State for sales, uses, or leases (including lease renewals) under this section shall be used by the State for projects eligible under this title.”. (b) Conforming Amendment.—The analysis for such chapter is amended by striking out the item relating to section 156 and inserting in lieu thereof the following: “156. Income from airspace rights-of-way.”.