To amend title 49, United States Code, with respect to certain grant assurances, and for other purposes.

This bill declares that an airport owner or operator who renews a covered lease shall not be treated as violating that owner's or operator's written airport improvement project grant assurance requirement to maintain a schedule of airport passenger user charges that will make the airport as self-sustaining as possible under existing circumstances. The bill defines "covered lease" to mean a lease: already existing before enactment of this bill, in which a nominal lease rate is provided, under which the lessee is a federal or state government entity, and that supports the operation of Air Force or Air National Guard aircraft at the airport or remotely from the airport.