Section 158.51

14 CFR Ch. I (1-1-19 Edition)

(5) The provisions of paragraph (b) of
this section that allow the commingling of PFCs with other air carrier
revenue do not apply to a covered air
carrier.
(d) All collecting air carriers must
disclose the existence and amount of
PFC funds regarded as trust funds in
their financial statements.
[Doc. No. 26385, 56 FR 24278, May 29, 1991, as
amended by Amdt. 158-2, 65 FR 34542, May 30,
2000; Amdt. 158-4, 72 FR 28850, May 23, 2007]

Section 158.51 Remittance of PFC-s.
Passenger facility charges collected
by carriers shall be remitted to the
public agency on a monthly basis. PFC
revenue recorded in the accounting
system of the carrier, as set forth in
Section 158.49 of this part, shall be remitted to
the public agency no later than the
last day of the following calendar
month (or if that date falls on a weekend or holiday, the first business day
thereafter).
Section 158.53 Collection compensation.
(a) As compensation for collecting,
handling, and remitting the PFC revenue, the collecting air carrier is entitled to:
(1) $0.11 of each PFC collected.
(2) Any interest or other investment
return earned on PFC revenue between
the time of collection and remittance
to the public agency.
(b) A covered air carrier that fails to
designate a separate PFC account is
prohibited from collecting interest on
the PFC revenue. Where a covered air
carrier maintains a separate PFC account in compliance with Section 158.49(c), it
will receive the interest on PFC accounts as described in paragraph (a)(2)
of this section.
(c)(1) Collecting air carriers may provide collection cost data periodically
to the FAA after the agency issues a
notice in the FEDERAL REGISTER that
specifies the information and deadline
for filing the information. Submission
of the information is voluntary. The
requested information must include
data on interest earned by the air carriers on PFC revenue and air carrier
collection, handling, and remittance
costs in the following categories:
(i) Credit card fees;
(ii) Audit fees;

(iii) PFC disclosure fees;
(iv) Reservations costs;
(v) Passenger service costs;
(vi) Revenue accounting, data entry,
accounts payable, tax, and legal fees;
(vii) Corporate property department
costs;
(viii)
Training
for
reservations
agents, ticket agents, and other departments;
(ix) Ongoing carrier information systems costs;
(x) Ongoing computer reservations
systems costs; and
(xi) Airline Reporting Corporation
fees.
(2) The FAA may determine a new
compensation level based on an analysis of the data provided under paragraph (c)(1) of this section, if the data
is submitted by carriers representing
at least 75 percent of PFCs collected
nationwide.
(3) Any new compensation level determined by the FAA under paragraph
(c)(2) of this section will replace the
level identified in paragraph (a)(1) of
this section.
[Doc. No. FAA-2006-23730, 72 FR 28850, May
23, 2007; Amdt. 158-4, 72 FR 31714, June 8, 2007]

Subpart D - Reporting,
Recordkeeping and Audits
Section 158.61

General.

This subpart contains the requirements for reporting, recordkeeping and
auditing of accounts maintained by
collecting carriers and by public agencies.
Section 158.63 Reporting requirements: Public agency.
(a) The public agency must provide
quarterly reports to air carriers collecting PFCs for the public agency
with a copy to the appropriate FAA
Airports Office. The quarterly report
must include:
(1) Actual PFC revenue received from
collecting air carriers, interest earned,
and project expenditures for the quarter;
(2) Cumulative actual PFC revenue
received, interest earned, project expenditures, and the amount committed
for use on currently approved projects,
including the quarter;

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