(This measure has not been amended since it was introduced. The expanded summary of the Senate passed version is repeated here.)
Airport and Airway Extension Act of 2011, Part III - Amends the Internal Revenue Code to extend through July 22, 2011, increased excise taxes on aviation fuels, the excise tax on air transportation of persons and property, and the expenditure authority for the Airport and Airway Trust Fund.
Increases the authorization of appropriations for the period beginning on October 1, 2010, and ending on July 22, 2011, for airport planning and development and noise compatibility planning projects (known as airport improvement projects [AIPs]). Allows such funds to be obligated at any time through September 30, 2011, and to remain available until expended. Sets forth a formula for calculating AIP funding apportionments.
Extends through July 22, 2011, the authority of the Secretary of Transportation to make new AIP grants.
Extends until July 23, 2011: (1) the pilot program for passenger facility fee authorizations at non-hub airports, and (2) disclosure requirements for large and medium hub airports applying for AIP grants.
Directs the Secretary to extend through July 22, 2011, the termination date of insurance coverage for domestic or foreign-flag aircraft. Grants the Secretary discretionary authority to further extend such coverage through October 31, 2011. Extends through October 31, 2011, the authority of the Secretary to limit air carrier liability for claims arising out of acts of terrorism.
Extends through July 22, 2011: (1) grant eligibility for airports located in the Marshall Islands, Micronesia, and Palau; (2) grants to state and local governments for land use compatibility AIPs; and (3) authority for approving an application of the Metropolitan Washington Airports Authority for an airport development grant or for permission to impose a passenger facility fee.
Amends the Vision 100 - Century of Aviation Reauthorization Act to extend through Junly 22, 2011: (1) the temporary increase to 95% of the federal government's share of certain AIP costs, and (2) funding for airport development at Midway Island Airport.