Congressional Budget Office Cost Estimate: H.R. 2997: 21st Century Aviation Innovation, Reform, and Reauthorization Act [open pdf - 146KB]
"H.R. 2997 would establish a federally chartered, not-for-profit corporation (known as the American Air Navigation Services (AANS) Corporation) to assume responsibility for operating the U.S. air traffic control system, a function currently performed by the Federal Aviation Administration (FAA). The proposed corporation would be governed by a 13-member board of directors composed of individuals representing certain aviation stakeholder groups. To finance the costs of providing air traffic services, the bill would authorize the corporation to charge fees to users of such services and to issue debt. The Secretary of Transportation would manage and oversee the transition of operational control over air traffic services to the proposed corporation, which would occur on October 1, 2020. Until that time, the bill would authorize appropriations for the FAA to continue to operate, maintain, and modernize the air traffic control system and carry out the agency's other traditional responsibilities related to civil aviation. After the proposed transition of all air traffic control-related personnel and programs to the AANS Corporation, the bill would authorize additional appropriations for FAA and the Department of Transportation (DOT) to continue to meet traditional aviation-related responsibilities, such as performing certain regulatory and safety-related activities, making grants to airports to support capital projects, and subsidizing air service to certain rural communities."
Congressional Budget Office: http://www.cbo.gov/