Aviation Funding Solvency Act
This bill prevents airport disruptions during a federal government shutdown by allowing the Federal Aviation Administration (FAA) to tap into an aviation insurance reserve to fund daily operations and equipment. If emergency funds run tight, the bill requires the agency to prioritize paying air traffic controllers, while always keeping at least $1 billion in reserve. It also permanently extends the government's authority to provide wartime insurance for commercial flights operating in high-risk areas.
What this bill touches.
Who it helps · who it burdens.
Who it helps
- Federal Aviation Administration (FAA)Can continue operations, facilities, and equipment programs during a government shutdown by drawing on surplus balances in the Aviation Insurance Revolving Fund (Sec. 2(a)).
- Air Traffic Organization employeesAre specifically prioritized to receive ongoing pay and compensation from surplus insurance funds during a lapse in regular appropriations (Sec. 2(g)).
- Aircraft operators needing non-premium war risk insuranceReceive permanent access to government-backed non-premium aviation war risk insurance coverage due to the repeal of the program's statutory sunset date (Sec. 3).
Who backs it
- Aviation Insurance Revolving FundSurplus balances above $1 billion are drawn upon to temporarily finance FAA agency operations and personnel compensation during federal funding lapses (Sec. 2(a), 2(h)(2), 2(i)).
The provisions, in plain language.
Authorizes the FAA to draw on surplus funds in the Aviation Insurance Revolving Fund (balances above $1 billion) to continue agency operations, facilities, and equipment at prior-year rates during a federal government shutdown or lapse in appropriations.
Requires the FAA Administrator to prioritize paying Air Traffic Organization staff if surplus insurance funds are insufficient to cover all agency programs during a funding lapse.
Requires any money spent from the Aviation Insurance Revolving Fund during a shutdown to be charged to the FAA's regular budget once formal appropriations or continuing resolutions are enacted.
Permanently extends the government's authority to provide non-premium aviation war risk insurance by repealing its statutory expiration date.