(This measure has not been amended since it was introduced. The summary of that version is repeated here.)
Amends federal transportation law to extend through December 31, 2008, the Secretary of Transportation's authority to: (1) issue war risk insurance policies to air carriers; and (2) certify that an air carrier is a victim of an act of terrorism and not liable for losses suffered by third parties that exceed $100 million, as well as immunity from punitive damages (with the federal government responsible for any liability above $100 million).