Fiscal Year 1981 Airport Development Authorization Act - Amends the Airport and Airway Development Act of 1970 to extend the airport development aid program through fiscal year 1981.
Directs the Secretary of Transportation to obligate a specified sum for carrying out noise compatibility programs under the Aviation Safety and Noise Abatement Act of 1979.
Authorizes the Secretary to approve certain applications for projects begun after September 30, 1980, and before the date of enactment of this Act.