S.1193 - Aviation Insurance Reauthorization Act of 1997105th Congress (1997-1998)
|Sponsor:||Sen. Gorton, Slade [R-WA] (Introduced 09/18/1997)|
|Committees:||Senate - Commerce, Science, and Transportation|
|Committee Reports:||S. Rept. 105-140|
|Latest Action:||12/02/1997 Became Public Law No: 105-137. (TXT | PDF) (All Actions)|
This bill has the status Became Law
Here are the steps for Status of Legislation:
- Passed Senate
- Passed House
- To President
- Became Law
Summary: S.1193 — 105th Congress (1997-1998)All Information (Except Text)
Passed Senate amended (11/08/1997)
Aviation Insurance Reauthorization Act of 1997 - Amends Federal law governing aviation insurance programs to require the Secretary of Transportation to determine the values of aircraft insurance and maximum insured amounts in accordance with reasonable business practices in the commercial aviation insurance industry.
Provides that if an indemnity agreement made between the Secretary and a designated agency head is countersigned by the President (or the President's designee), it shall constitute a determination that continuation of the pertinent aircraft operations is necessary to implement U.S. foreign policy.
Authorizes binding arbitration of claims for insurance policies issued by the Secretary.
Extends the Secretary's authority to provide aviation insurance and reinsurance through December 31, 1998.
Treats as a public aircraft any aircraft owned by the U.S. Government and operated by any person for purposes related to crew training, equipment development, or demonstration.