STANDARDS FOR AIRCRAFT' AND AIRCRAFT ENGINES TO REDUCE NOISE LEVELS.

SEC. 726. STANDARDS FOR AIRCRAFT' AND AIRCRAFT ENGINES TO REDUCE NOISE LEVELS. (a) Development of New Standards.—The Secretary shall continue to work to develop through the International Civil Aviation Organization new performance standards for aircraft and aircraft engines that will lead to a further reduction in aircraft noise levels. (b) Goals To Be Considered in Developing New Standards.—In negotiating standards under subsection (a), the Secretary shall give high priority to developing standards that— (1) are performance based and can be achieved by use of a full range of certifiable noise reduction technologies; (2) protect the useful economic value of existing Stage 3 aircraft in the United States fleet; (3) ensure that United States air carriers and aircraft engine and hushkit manufacturers are not competitively disadvantaged; (4) use dynamic economic modeling capable of determining impacts on all aircraft in service in the United States fleet; and (5) continue the use of a balanced approach to address aircraft environmental issues, taking into account aircraft technology, land use planning, economic feasibility, and airspace operational improvements. (c) Annual Report.—Not later than July 1, 2000, and annually thereafter, the Secretary shall transmit to Congress a report regarding the application of new standards or technologies to reduce aircraft noise levels.