Correction: HB 354 Press Release
Bill expands eligibility for Capstone avionics loans
Thursday, March 25, 2010, Juneau, Alaska – The Alaska State House of Representatives today unanimously passed House Bill 354, which expands eligibility for a loan under the Capstone Avionics Loan Program. Representative Wes Keller, R-Wasilla, sponsored the bill.
HB 354 allows funds to be distributed from the Capstone Avionics Loan Program to operators or carriers that lease their aircraft. The initial concept of the program was to provide low-interest loans to in-state private and commercial aircraft owners to upgrade their avionics. HB 354 expands the term “owners” to include individuals and companies.
“Alaska is an aviation-reliant state, and rural flying is an everyday occurrence,” Keller said. “Pilots rely heavily on their navigation equipment to make it safely from ‘Point A’ to ‘Point B.’ I am pleased that my colleagues have chosen to join me in supporting this legislation. Alaskans will be safer in the skies because of it.
The Capstone program is a cooperative effort by the Federal Aviation Administration, Alaska aviation industry, and the State of Alaska via the Dept. of Commerce, Community & Economic Development’s Division of Investments. The FAA projects that implementation of Capstone avionics in Alaska will result in fewer aircraft accidents, and fewer fatalities.
HB 354 now heads to the Alaska State Senate for consideration.