Airport and Airway Development Act

[AI summary unavailable — showing source text] Airport and Airway Development Act - Directs the Secretary of Transportation to conduct studies with respect to: (1) land bank planning and development for future and existing airports through Federal State, or local government action; and (2) potential locations for major new airports and the identification of various options for financing land acquisition and development costs. Directs the Secretary to publish by February 15, 1977, and annually thereafter, a report on the planning and development undertaken by sponsors of air carrier airports, including a short-term capital improvement program for airports enplaning .06 percent or more of the total annual passengers enplaned by air carriers certificated by the Civil Aeronautics Board. Authorizes specified sums for each of the fiscal years 1976 through 1980 to be appropriated for airport and airway development, allocating specific amounts to air carrier airports, general aviation airports, air navigation facilities, and research and development activities. Provides for the apportionment of funds among the State according to a formula based on the relative number of air carrier departures, land area, and population within each of t…