GRANTS FROM SMALL AIRPORT FUND.

SEC. 126. GRANTS FROM SMALL AIRPORT FUND. (a) Set-Aside for Meeting Safety Terms in Airport Operating Certificates.—Section 47116 is amended by adding at the end the following: “(e) Set-Aside for Meeting Safety Terms in Airport Operating Certificates.—In the first fiscal year beginning after the effective date of regulations issued to carry out section 44706(b) with respect to airports described in section 44706(a)(2), and in each of the next 4 fiscal years, the lesser of $15,000,000 or 20 percent of the amounts that would otherwise be distributed to sponsors of airports under subsection (b)(2) shall be used to assist the airports in meeting the terms established by the regulations. If the Secretary publishes in the Federal Register a finding that all the terms established by the regulations have been met, this subsection shall cease to be effective as of the date of such publication.”. (b) Notification of Source of Grant.—Section 47116 is further amended by adding at the end the following: “(f) Notification of Source of Grant.—Whenever the Secretary makes a grant under this section, the Secretary shall notify 114 STAT. 77 the recipient of the grant, in writing, that the source of the grant is from the small airport fund.”. (c) Technical Amendments.—Section 47116(d) is amended— (1) by striking “In making” and inserting the following: “(1) Construction of new runways.—In making”; (2) by adding at the end the following: “(2) Airport development for turbine powered aircraft.—In making grants to sponsors described in subsection (b)(1), the Secretary shall give priority consideration to airport development projects to support operations by turbine powered aircraft if the non-Federal share of the project is at least 40 percent.”; and (3) by aligning the remainder of paragraph (1) (as designated by paragraph (1) of this subsection) with paragraph (2) (as added by paragraph (2) of this subsection).