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"Airport Security Legislation"

Thursday, September 27, 2001

Airport Security Legislation Update: Daschle Meeting/President's
Remarks/Conference Call with Bond Underwriters 
Meeting with Senate Majority Leader Daschle 

AAAE met today with Senate Majority leader Tom Daschle (D-S.D.) to
discuss including airport priorities as part of the airport security
bill that will begin moving through Congress next week. Daschle will be
one of a small group of decision-makers involved in shaping the
legislation's final form. The association highlighted the need for a
direct federal reimbursement to airports for security-related costs,
temporary flexibility for AIP and PFC funding to meet increased
operational costs, support in addressing airport bond issues, and a fix
to allow airports to obtain war-risk insurance. 

Senator Daschle was sympathetic to airport concerns. He made clear,
however, that there are a number of other variables that need to be
worked out, from determining the details on federalization to addressing
the needs of airline workers and others laid off as a result of the
Sept. 11 attacks.

President Bush's Remarks Today 
As we reported earlier, President Bush traveled to today to meet with
airline employees and announce a series of new initiatives aimed at
improving airline and airport security.  The President's proposal

.         $3 billion in funding to improve security of our airplanes and

.         $500 million in grant funding to make cockpits and pilots more

.         A dramatic increase in the number of federal air marshals on

.         Federal management of all airport security and screening
services, and  

.         A National Guard presence at airports 

In addition, nine members of the President's cabinet will board
commercial flights this week to show their confidence in the airline
industry.  The President also said that his recommendations would be
added to those of airport and aircraft rapid response teams which are
expected next week.  Video clips of the President's remarks are
available at: http://www.airportnet.org/depts/federal/press/video.htm#bn

Conference Call with Bond Underwriters 

AAAE and ACI-NA staff participated in a conference call today with
representatives of the bond community to discuss advancing airport bond
provisions in the upcoming aviation security bill.  Specifically, the
suggestions from the bond community included the need for a three-year
liquidity adjustment period and the ability for airports to conduct
advanced refunding to take advantage of lower interest rates.

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