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Committee backs $75 million airport-hangar grant program aimed at spurring aviation industry projects
Summary
The committee approved a committee substitute for House Bill 40 10 to create an Airport Hangar Grant Program and an Airport Hangar Development subfund, authorizing a one-time transfer of $75,000,000 from the Economic Development Project Fund and setting preferences including at least one grant for an 8,000-foot runway.
The Senate Finance Committee voted to report a committee substitute for House Bill 40 10 that would create an Airport Hangar Grant Program and an Airport Hangar Development Fund as a subfund of the Economic Development Project Fund, authorize grants to counties, municipalities and regional airport authorities, and direct a one-time transfer of $75,000,000 to the subfund on or before July 1.
Presenter described eligible uses (planning, acquisition, construction, improvement, maintenance, or operation of hangar facilities) and said the fund is intended to spur economic development and aviation repair, maintenance, assembly and overhaul. The strike-and-insert amendment adopted by the committee clarifies the subfund status, requires at least one runway grant go to an airport with an 8,000-foot runway, and gives permissive rulemaking authority to the Economic Development Authority. "On or before July 1, the authority is to transfer $75,000,000 from the economic development project fund to a new fund," the presenter said.
Senator Harris praised the program as an economic development opportunity for local airports and industries that support aviation repair and maintenance. The committee adopted the amendment and voted to report the committee substitute to the full Senate. The bill now awaits action on the Senate floor and any required appropriation or further rulemaking by the Economic Development Authority.
