Aviation Funding Solvency Act

This bill, known as the Aviation Funding Solvency Act, aims to ensure the continuity of certain Federal Aviation Administration (FAA) operations during a lapse in government appropriations. It authorizes the use of covered amounts from the Aviation Insurance Revolving Fund to fund FAA programs, projects, and activities that were conducted in the preceding fiscal year. The funding would be available at a rate not exceeding that of the previous fiscal year's appropriations and would continue from the first day of a shutdown until a new appropriation bill or continuing resolution is enacted. A key provision mandates that if funds are insufficient, the Administrator must prioritize the payment of compensation for Air Traffic Organization employees . This temporary funding mechanism would not apply if the Aviation Insurance Revolving Fund's balance would fall below $1,000,000,000, ensuring the fund's solvency. Additionally, the bill includes a provision to extend non-premium war risk insurance by amending existing law.