General Aviation Industry Reparations Act of 2002

[AI summary unavailable — showing source text] General Aviation Industry Reparations Act of 2001 - Directs the President to take certain actions to compensate general aviation entities for losses incurred by them as a result of the terrorist attacks on the United States on September 11, 2001, including to: (1) issue Federal credit instruments (including subsidy amounts for such instruments) to such entities; and (2) compensate them for direct losses incurred as a result of any Federal ground stop order issued by the Government and any incremental losses incurred as a direct result of such attacks. Authorizes the Air Transportation Stabilization Board to enter into agreements with one or more obligors to issue such instruments. Sets forth certain instrument and compensation requirements. Authorizes the Secretary of Transportation to provide insurance or reinsurance, or reimbursement of insurance costs increases, to a general aviation entity against loss or damage arising from the operation of nonmilitary aircraft while in the United States. Defines "general aviation entity" to mean any person (other than an air carrier) that operates nonmilitary aircraft or provides aviation services directly related to nonmilitary aircraft or n…