A bill to amend the Airport and Airway Development Act of 1970 to make privately owned public use airports eligible for funding under the act.

[AI summary unavailable — showing source text] Amends the Airport and Airway Development Act of 1970 to make privately owned airports which are, or will be, used for public purposes eligible to receive Federal assistance under such Act for airport development projects. Requires as a condition precedent to the approval of such a project, written assurances to the Secretary of Transportation that the landing area of such an airport will be used for public purposes for not less than 20 years. Requires the immediate repayment to the United States of all Federal project funds with an annual interest rate of six percent if the airport is not used for public purposes during such period.…