S. 1193 (is) To amend chapter 443 of title 49, United States Code, to extend the authorization of the aviation insurance program, and for other purposes. ...

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105th CONGRESS
  1st Session
                                S. 1193

_______________________________________________________________________

                                 AN ACT


 
  To amend chapter 443 of title 49, United States Code, to extend the 
    authorization of the aviation insurance program, and for other 
                               purposes.

    Be it enacted by the Senate and House of Representatives of the 
United States of America in Congress assembled,

SECTION 1. SHORT TITLE.

    This Act may be cited as the ``Aviation Insurance Reauthorization 
Act of 1997''.

SEC. 2. VALUATION OF AIRCRAFT.

    (a) General Authority for Insurance and Reinsurance.--Section 
44302(a)(2) of title 49, United States Code, is amended by striking 
``as determined by the Secretary.'' and inserting ``as determined by 
the Secretary in accordance with reasonable business practices in the 
commercial aviation insurance industry.''.
    (b) Limitation on Maximum Insured Amount.--Section 44306(c) of 
title 49, United States Code, is amended by striking ``as determined by 
the Secretary.'' and inserting ``as determined by the Secretary in 
accordance with reasonable business practices in the commercial 
aviation insurance industry.''.

SEC. 3. EFFECT OF INDEMNITY AGREEMENTS.

    Section 44305(b) of title 49, United States Code, is amended by 
adding at the end the following: ``If such an agreement is 
countersigned by the President or the President's designee, the 
agreement shall constitute, for purposes of section 44302(b), a 
determination that continuation of the aircraft operations to which the 
agreement applies is necessary to carry out the foreign policy of the 
United States.''.

SEC. 4. ARBITRATION AUTHORITY.

    (a) Authorization of Binding Arbitration.--Section 44308(b)(1) of 
title 49, United States Code, is amended by inserting after the second 
sentence the following: ``Any such policy may authorize the binding 
arbitration of claims made thereunder in such manner as may be agreed 
to by the Secretary and any commercial insurer that may be responsible 
for any part of a loss to which such policy relates.''.
    (b) Authority to Pay Arbitration Award.--Section 44308(b)(2) of 
such title is amended--
             (1) by striking ``and'' at the end of subparagraph (A);
             (2) by redesignating subparagraph (B) as subparagraph (C); 
        and
             (3) by inserting after subparagraph (A) the following:
                     ``(B) pay the amount of a binding arbitration 
                award made under paragraph (1); and''.

SEC. 5. EXTENSION OF PROGRAM.

    (a) In General.--Section 44310 of title 49, United States Code, is 
amended by striking ``September 30, 2002'' and inserting ``December 31, 
1998''.
    (b) Effective Date.--The amendment made by subsection (a) takes 
effect on October 1, 1997.

SEC. 6. USE OF AIRCRAFT FOR DEMONSTRATION.

    Section 40102(a)(37)(A) of title 49, United States Code, is 
amended--
            (1) by striking ``or'' in clause (i);
            (2) by redesignating clause (ii) as clause (iii); and
            (3) by inserting after clause (i) the following:
                            ``(ii) owned by the United States 
                        Government and operated by any person for 
                        purposes related to crew training, equipment 
                        development, or demonstration; or''.

            Passed the Senate November 8, 1997.

            Attest:

                                                             Secretary.
105th CONGRESS

  1st Session

                                S. 1193

_______________________________________________________________________

                                 AN ACT

  To amend chapter 443 of title 49, United States Code, to extend the 
    authorization of the aviation insurance program, and for other 
                               purposes.

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