[Code of Federal Regulations]

[Title 14, Volume 3]

[Revised as of January 1, 2006]

From the U.S. Government Printing Office via GPO Access

[CITE: 14CFR158.39]



[Page 182]

 

                     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.