Aviation Safety Commission Act of 1986 - Establishes the Aviation Safety Commission (whose members are to be appointed by the President within 30 days after enactment of this Act) to study how the Federal Aviation Administration may most effectively perform its responsibilities and increase aviation safety. Outlines the main considerations in such study.
Requires the Commission to submit a report on such study to the President and the Congress within nine months after the date of enactment of this Act. Terminates the Commission nine months after the date of enactment of this Act.
Authorizes appropriations for FY 1987.