To amend title 49, United States Code, to exempt airports in economically depressed communities from matching grant obligations under the airport improvement program.

Entitles economically depressed communities to 100 percent of costs for an airport project if the community has: (1) an unemployment rate 1 percent higher than the national average for the preceding 24 months; (2) a per capita income of 80 percent or less of the national average; or (3) a special need such as substantial population loss, underemployment, military base closures, major disasters or emergencies, extraordinary depletion of natural resources, closure or restructuring of industrial firms essential to the area economies, and destructive impacts of foreign trade.