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Airport construction acceleration: payments for early project completion.

New rules allow contractors on airport construction projects to receive additional payments for completing work ahead of schedule. This aims to speed up airport development, potentially leading to faster creation of new facilities for travelers and improved air services. Payment limits are in place to prevent misuse and ensure airport operational safety.
Key points
Allows incentive payments to contractors for early completion of federally financed airport development projects.
Payments for early completion are capped at the lesser of 5% of the initial contract amount or $1,000,000.
The incentives aim to increase airport capacity or efficiency, or result in cost savings by shortening project duration.
Ensures that expedited work does not negatively impact airport operations or safety.
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Additional Information
Print number: 117_HR_468
Sponsor: Rep. Graves, Sam [R-MO-6]
Process start date: 2021-01-25