To amend title 49, United States Code, to extend the time during which air carrier liability for third party damages as a result of a terrorist attack may be limited, and for other purposes.

Amends Federal transportation law to extend, beginning on September 22, 2001 through December 31, 2003, the period of time during which air carrier liability for third party damages as a result of a terrorist act may be limited to no more than $100 million, in the aggregate, for all claims arising out of such act.