1X0 STAT. 3280 PUBLIC LAW 104-264—OCT. 9, 1996 or a housing unit in a building owned by a cooperative) that is located outside the contiguous United States if the cost of the unit is $300,000 or less. "(2) ADJUSTMENTS FOR INFLATION.— For fiscal years beginning after September 30, 1997, the Administrator may adjust the dollar amount specified in paragraph (1) to take into account increases in local housing costs. "(3) CONTINUING OBLIGATIONS. —Notwithstanding section 1341 of title 31, the Administrator may purchase a housing unit under paragraph (1) even if there is an obligation thereafter to pay necessary and reasonable fees duly assessed upon such unit, including fees related to operation, maintenance, taxes, and insurance. "(4) CERTIFICATION TO CONGRESS.—The Administrator may purchase a housing unit under paragraph (1) only if, at least 30 days before completing the purchase, the Administrator transmits to the Committee on Transportation and Infrastructure of the House of Representatives and the Committee on Commerce, Science, and Transportation of the Senate a report conteuning— "(A) a description of the housing unit and its price; "(B) a certification that the price does not exceed the median price of housing units in the area; and "(C) a certification that purchasing the housing unit is the most cost-beneficial means of providing necessary accommodations in carrying out this part. "(5) PAYMENT OF FEES. —The Administrator may pay, when due, fees resulting from the purchase of a housing unit under this subsection from any amounts made available to the Administrator.". SEC. 1202. CLARIFICATION OF PASSENGER FACILITY REVENUES AS CONSTITUTING TRUST FUNDS. Section 40117(g) is amended by adding at the end the following: "(4) Passenger facility revenues that are held by an air carrier or an agent of the carrier after collection of a passenger facility fee constitute a trust fund that is held by the air carrier or agent for the beneficial interest of the eligible agency imposing the fee. Such carrier or agent holds neither legal nor equitable interest in the passenger mcility revenues except for any handling fee or retention of interest collected on unremitted proceeds as may be allowed by the Secretary.", 49 USC 47101 SEC. 1203. AUTHORITY TO CLOSE AIRPORT LOCATED NEAR CLOSED note. OR REALIGNED MILITARY BASE. Notwithstanding any other provision of a law, rule, or grant assurance, an airport that is not a commercial service airport may be closed by its sponsor without any obligation to repay grants made under chapter 471 of title 49, United States Code, the Airport and Airway Improvement Act of 1982, or any other law if the airport is located within 2 miles of a United States Army depot which has been closed or realigned; except that in the case of disposal of the land associated with the airport, the part of the proceeds from the disposal that is proportional to the Government's share of the cost of acquiring the land shall be paid to the Secretary of Transportation for deposit in the Airport and Airway Trust Fund established under section 9502 of the Internal Revenue Code ofl986(26 U.S.C. 9502).
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