Section 14-H. Airport preservation

1. In order to preserve and enhance the
  air  transportation  system  of   the   state,   the   commissioner   of
  transportation is hereby authorized:
    a. To enter into an agreement with the operator of any privately-owned
  airport  to  pay  on behalf of the state a share of the project costs of
  any project undertaken in accordance with the provisions of the  federal
  airport   and   airway  improvement  program  of  the  federal  aviation
  administration or any federal program hereafter enacted for the  purpose
  of airport improvement.
    b.   To   utilize  for  this  purpose  any  funds  available  for  the
  acquisition, construction, reconstruction or improvement of airports  or
  aviation   capital  facilities,  including  but  not  limited  to  funds
  available  from  the  transportation  capital  facilities  bond  act  of
  nineteen   hundred   sixty-seven   and  the  rebuild  New  York  through
  transportation infrastructure  renewal  bond  act  of  nineteen  hundred
  eighty-three.    Notwithstanding  any provisions of law to the contrary,
  for airports funded pursuant to this section, the owner of  a  municipal
  airport  may,  with  the approval of the commissioner, contract directly
  with the office of general services to provide for the removal  of  fuel
  tanks  under  such  terms  and  conditions as set forth by the office of
  general services, including provision for the deposit of funds  of  such
  airport  with  the  state  comptroller, who is authorized to receive and
  accept the same for the purposes of this paragraph, for  expenditure  on
  such  project  costs  or,  as  appropriate, for the return of any excess
  deposit to such airport, on vouchers approved by the office  of  general
  services.
    c. To enter into any agreements necessary to effectuate the provisions
  of  this  section  and  to  insure the availability to the public of any
  airport improved hereunder for the useful life of  such  improvement  as
  defined in section sixty-one of the state finance law.
    d.  To  receive  applications for participation in this program by the
  operators of privately-owned airports determined by the commissioner  to
  serve  a  public  purpose and to establish standards governing the form,
  content and submission of such applications, including  the  requirement
  that  any  application  submitted  under  this section by the owner of a
  privately-owned  airport  be  accompanied  by  a  resolution  from   the
  governing  body  of  the  municipality  in which such airport is located
  formally endorsing the project for which state aid is requested.
    e. To do all things necessary, convenient or desirable  to  carry  out
  the purposes of this section.
    2.  The  state  share  of any such improvement project undertaken with
  federal assistance from the federal  aviation  administration  shall  be
  limited  to  seventy-five  percent  of  the  non-federal  share  of such
  approved project.
    3. Whenever a property owner intends to dispose  of,  sell,  lease  or
  otherwise  transfer  any or all of its interest in an air transportation
  facility and such disposal, sale, lease or transfer shall result in that
  facility no longer having as its principal function aviation  operations
  or  support,  such  owner  shall notify the department in writing of its
  intention to transfer such interest on or before ninety  days  prior  to
  such transfer.