[Code of Federal Regulations]
[Title 14, Volume 3]
[Revised as of January 1, 2004]
From the U.S. Government Printing Office via GPO Access
[CITE: 14CFR158.39]

[Page 192]
 
                     TITLE 14--AERONAUTICS AND SPACE
 
CHAPTER I--FEDERAL AVIATION ADMINISTRATION, DEPARTMENT OF TRANSPORTATION 
                               (CONTINUED)
 
PART 158--PASSENGER FACILITY CHARGES (PFC'S)--Table of Contents
 
                   Subpart B--Application and Approval
 
Sec. 158.39  Use of excess PFC revenue.

    (a) If the amount of PFC revenue remitted to the public agency, plus 
interest, exceeds allowable costs of the project, excess funds shall be 
used for approved projects or retirement of outstanding PFC-financed 
bonds.
    (b) For bond-financed projects, any excess PFC revenue collected 
under debt servicing requirements shall be retained by the public agency 
and used for approved projects or retirement of outstanding PFC-financed 
bonds.
    (c) When the authority to impose a PFC has expired or has been 
terminated, accumulated PFC revenue shall be used for approved projects 
or retirement of outstanding PFC-financed bonds.
    (d) Within 30 days after the authority to impose a PFC has expired 
or has been terminated, the public agency shall present a plan to the 
appropriate FAA Airports office to begin using accumulated PFC revenue. 
The plan shall include a timetable for the submission of any necessary 
application under Sec. 158.25(c) of this part. If the public agency 
fails to submit such a plan or if the plan is not acceptable to the 
Administrator, the Administrator offsets Federal airport grant program 
apportioned funds.