NC H6

Increases the maximum lease term for real or personal property from 25 years to 40 years for the Burlington-Alamance Airport Authority.

Extends the maximum contract term for airline operations and other airplane activities from 25 years to 40 years.

Extends the maximum lease term for buildings, hangars, shops, and other airport improvements from 25 years to 40 years.

Allows the Airport Authority to pledge and assign leases as security for loans related to airport improvements and facilities.

Effective upon enactment and applies to contracts entered into, renewed, or modified on or after the effective date.