Airport and Airway Development Extension Act

Airport and Airway Development Extension Act - Increases from $2,500,000,000 to $4,085,000,000 the obligational authority for airport assistance under the Airport and Airway Development Act during the period July 1, 1970 through June 30, 1980.

Expands the definition of "airport development" to include: (1) the acquisition of land to mitigate adverse environmental effects from an airport development project; (2) nonrevenue producing public use areas of terminal buildings; and (3) buildings or parts of buildings directly related to the safety of persons at the airport.

Directs the Secretary of Transportation to prepare and publish a national airport system plan which shall serve as the operational blueprint for airport development for at least ten years. States that the plan shall set forth the type and estimated cost of airport development considered necessary to provide an adequate system of public airports in this country. Requires air carrier airports and general aviation airports, as defined in this Act, to file with the Secretary master plans as a prerequisite to future inclusion in the national airport system plan.

Increases from $75,000,000 to $153,750,000 the total amount of funds obligated for grants by the Secretary for airport planning. Increases from two-thirds to three-forths the portion of a planning project which may be covered by a grant from the Secretary. Increases to ten percent the portion of funds available for grants which may be used for projects in any single state, Puerto Rico, the Virgin Islands, or Guam.

Extends the authorization of the Secretary to make grants for airport development through fiscal year 1980. Specifies the amounts of such grants for each year.

Extends through fiscal year 1980 the authority of the Secretary to incur obligations to make grants for airport development. Specifies the limit of such obligations. Sets forth by fiscal year the amount of such obligations which may be liquidated.

Authorizes the Secretary to make low interest loans direct to public agencies to purchase any private airport in the national airport systems plan. Stipulates that, as long as any outstanding balance shall remain on such loans, all airport income over actual operating costs shall be used for repayment of the loan. Extends through fiscal year 1980, the authority of the Secretary to make expenditures for the purpose of acquiring, establishing, and improving air navigation facilities.

Revises the distribution formula for funds appropriated for airport and airway development programs.

Sets forth requirements to be complied with by applicants for airport development project grants. Prohibits the Secretary from authorizing a project within a standard metropolitan statistical area which is found to have an adverse environmental affect. Excludes projects outside standard metropolitan statistical areas from such prohibition except under special circumstances.

Increases to 75 percent the portion of any approved airport development project which is payable by the United States.

Authorizes the Secretary to provide funds for the development of the nonrevenue producing public use areas of airport terminals. Limits such support to 50 percent of allowable project costs.