Aircraft Noise Reduction Act This bill allows a general aviation airport to make reasonable adjustments to air traffic and training patterns of noncommercial charter flights for the purposes of implementing aircraft noise limitations. A general aviation airport is a public-use airport that does not have scheduled service or that has scheduled service with less than 2,500 passenger boardings per year. Specifically, upon the request of a general aviation airport, the Federal Aviation Administration (FAA) must consult with the airport and provide for reasonable adjustments to air traffic and training patterns that do not otherwise violate law. No federal funds may be withheld from, withdrawn from, or denied to a general aviation airport based solely on an activity carried out under this bill. In the case of an emergency, the FAA may reject or temporarily restrict an accommodation to a general aviation airport to implement aircraft noise limitations. Further, the Department of Transportation must update current regulations, as necessary, to allow general aviation airports to implement effective noise abatement measures, as determined appropriate by general aviation airport owners and operators.