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Full Text of this Amendment
Beginning on page 24, strike line 22 and all that follows through page 25, line 10, and insert the following:
(2) in subsection (c)(2)(A)(i), by striking ``purpose'' and inserting the following: ``purpose, which includes serving as noise buffer land that may be--
``(I) undeveloped; or
``(II) developed in a way that is compatible with using such land for noise buffering purposes;''.
(3) in subsection (c)(2)(B)(iii), by striking ``paid to the Secretary for deposit in the Fund if another eligible project does not exist.'' and inserting ``reinvested in another project at the airport or transferred to another airport as the Secretary prescribes; and''; and
(4) in subsection (c)--
(A) by redesignating paragraph (3) as paragraph (5);
(B) by inserting after paragraph (2) the following:
``(3)(A) A lease by an airport owner or operator of land acquired for a noise compatibility purpose with a grant provided under this subchapter shall not be considered a disposal for purposes of paragraph (2).
``(B) The airport owner or operator may use revenues from such lease for ongoing airport operational and capital purposes.
``(C) The Administrator of the Federal Aviation Administration shall coordinate with each airport owner or operator to ensure that such leases are consistent with noise buffering purposes.
``(D) The provisions of this paragraph apply to all land acquired before, on, or after the date of the enactment of this paragraph.
``(4) In approving the reinvestment or transfer of
(As printed in the Congressional Record for the Senate on Apr 30, 2008.)