Finance Committee News

Municipal Bonds and the U.S. Airport Perspective Webinar - June 5, 2009:  The Finance Committee's Financing & Accounting Working Group held a webinar regarding Municipal Bonds and the U.S. Airport Perspective. It was a very successful webinar with over 60 members participating. To access the presentation, please click on the following link: 2009 - Municipal Bonds & the U.S. Airport Perspective.

Alternative Minimum Tax (AMT) Issues - April 2009:  Airports have long recognized the need to eliminate the AMT penalty for private activity bonds as it would help to create jobs and generate econommic activity at airports and other sectors of the U.S. economy.

The Finance Committee has been working closely with ACI-NA's Government Affairs team to compile bond data, assist in the preparation of briefing papers and reach out to their respective lobbying firm/government affairs staff to emphasize the importance and urgency of the AMT issue and explore appropriate avenues to address the issue. As a result of these efforts, the American Recovery and Reinvestment Act (ARRA, also know as the Stimulus bill) included language that would exempt private activity bonds from the AMT for 2009 and 2010. In addition, the language allows for refinancing of AMT bonds issued between December 31, 2003 and January 1, 2009 into non-AMT bonds. Staff has been providing the recent bond transaction information to FAA for inclusion in their weekly ARRA update to the DOT Secretary.

Currently, the Committee is conducting an AMT survey that would help formulate a strategy to extend the AMT-holiday, and/or remove AMT altogether from all future refundings and debt issuances. The survey is collecting information on how airports expect the current AMT legislation to help over the next two years and bonds outstanding that are/will be refundable. To participate in the survey please contact Chris Poinsatte at capoinsatte@dfwairport.com

Finance Committee ACRP Involvement - March 2009:  Finance Committee Steering Group members and ACI-NA staff have been actively participating in a number of ACRP projects (ACRP 01-06, 01-07, 01-08, 01-09, 01-10, and 01-11) by serving on the respective project panel to ensure that the project research team incorporates input from the industry. The Committee has also been supporting  the various ACRP research teams by providing presentation opportunities at relevant ACI conferences/meetings, coordinating interviews with airports, and distributing information request to various relevant committees.

2008 Capital Needs Survey - February 2009:  Every year, ACI-NA conducts a Capital Development Needs Survey on airport development needs. The information is a key component of ACI-NA's continued work for passage of a multi-year Federal Aviation Administration (FAA) reauthorization bill, to ensure airports have adequate funding to enhance capacity.  We have found that the data from our survey is critical in ensuring that policy-makers understand the complete development needs “picture” as part of their consideration of an increase in both the Passenger Facility Charge (PFC) user fee and Airport Improvement Program financing levels.

The 2008 Capital Development Needs Survey results were presented at the 2009 CI-NA Economics and Finance Conference in April 2009. To access the presentation,  please click here.  To view a copy of the 2008 Captital Development Needs Survey, please click on the following link: click here.