Tax News

CCH (cch.taxgroup.com) reports:

  Senate lawmakers on December 10 passed the Fiscal Year 2010 Federal Aviation Administration Extension Act, Part II (HR 4217). The measure extends the financing and spending authority of the Airport and Airway Trust Fund for three months, to March 31, 2010. The previous long-term FAA reauthorization act, the Vision 100--Century of Aviation Reauthorization Act (P.L. 108-176) expired on September 30, 2007, and the FAA's current funding authority was set to expire on December 31. The House has passed a long-term FAA funding bill, but the Senate has not, resulting in the need for a series of short-term extension acts.