Airport and Airway Extension Act of 2012

(This measure has not been amended since it was introduced. The expanded summary of the House passed version is repeated here.)

Airport and Airway Extension Act of 2012 - (Sec. 2) Amends the Internal Revenue Code to extend through February 17, 2012, increased excise taxes on aviation fuels, the excise tax on air transportation of persons and property, and the expenditure authority for the Airport and Airway Trust Fund.

(Sec. 4) Extends through February 17, 2012: (1) the authorization of appropriations for airport planning and development and noise compatibility planning projects (known as airport improvement projects [AIPs]), and (2) the authority of the Secretary of Transportation (DOT) to make new AIP grants.

(Sec. 5) Extends through February 17, 2012: (1) the pilot program for passenger facility fee authorizations at non-hub airports, and (2) disclosure requirements for large and medium hub airports applying for AIP grants.

Authorizes appropriations to the Secretary through February 17, 2012, to make agreements to provide small community air service assistance to underserved airports.

Directs the Secretary to extend through February 17, 2012, the termination date of insurance coverage for domestic or foreign-flag aircraft. Grants the Secretary discretionary authority to further extend such coverage through May 17, 2012. Extends through May 17, 2012, the authority of the Secretary to limit air carrier liability for claims arising out of acts of terrorism.

Extends through February 17, 2012: (1) grant eligibility for airports located in the Marshall Islands, Micronesia, and Palau; (2) grants to state and local governments for land use compatibility AIPs; and (3) authority for approving an application of the Metropolitan Washington Airports Authority for an airport development grant or for permission to impose a passenger facility fee.

Amends the Vision 100-Century of Aviation Reauthorization Act to extend through February 17, 2012: (1) the temporary increase to 95% of the federal government's share of certain AIP costs, (2) funding for airport development at Midway Island Airport, and (3) the effective period of final orders of the Secretary regarding the eligibility of small communities for essential air service subsidies.

(Sec. 6) Authorizes appropriations to the Federal Aviation Administration (FAA) for the period from October 1, 2011, through February 17, 2012, for: (1) FAA operations; (2) air navigation facilities and equipment; and (3) civil aviation research, engineering, and development.

(Sec. 9) Authorizes appropriations out of the Airport and Airway Trust Fund for the period from October 1, 2011, through February 17, 2012, for the essential air service (EAS) program.