An essential function of airport management is to successfully develop and implement an airport budget. Airports must develop an operating budget for the short term, as well as plan for the long term to determine capital expenditures such as runway construction, land acquisition, or major equipment purchases.
Leases, Use Agreements, and Airport Minimum Standards
Bipartisan Infrastructure Law
The legislation provides $25 billion for airports to address repair and maintenance backlogs, reduce congestion and emissions near ports and airports, and drive electrification and other low-carbon technologies.
- $5 Billion for AIRPORT TERMINALS. To replace aging terminals, increase terminal energy efficiency and accessibility, and more. BIL provides $5 billion to provide competitive grants for airport terminal development projects that address the aging infrastructure of the nation’s airports.
- $15 Billion for AIRPORT INFRASTRUCTURE. For airport projects that increase safety and expand capacity. BIL provides $15 billion for airport-related projects as defined under the existing Airport Improvement Grant and Passenger Facility Charge criteria. The money can be invested in runways, taxiways, safety and sustainability projects, as well as terminal, airport-transit connections and roadway projects.
- $5 Billion for AIR TRAFFIC FACILITIES. To replace facilities and equipment and improve safety, security, and environmental standards. BIL provides $5 billion to replace Air Traffic facilities, update and upgrade equipment including landing and navigational aids, and improve safety, security, and environmental standards at facilities. $200M of this funding must be allocated to contract tower facilities.
For the most up-to-date information and news from FAA regarding the Bipartisan Infrastructure Law (BIL), please visit the FAA's BIL page.