To allow a waiver or exemption of certain requirements for restricted airspace if security is not reduced.

Amends the Transportation, Treasury, and Independent Agencies Appropriations Act, 2004 (Public Law 108 - 199, div. F) to direct the Secretary of Transportation to maintain in full force and effect certain restrictions imposed under Federal Aviation Administration (FAA) Notices to Airmen FDC 3/2122, FDC 3/2123, and FDC 2/0199 (relating to restricted airspace). Prohibits the Secretary from granting any waivers or exemptions from such restrictions, except, among other things, to allow the operation of an aircraft participating in an air show in restricted airspace if the Administrator of the FAA, in consultation with the Secretary of the Department of Homeland Security, determines that the safety of an event is not compromised.